Rathbones Group PLC Cuts Position in Autodesk, Inc. $ADSK

Rathbones Group PLC decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 35.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,109 shares of the software company’s stock after selling 20,764 shares during the period. Rathbones Group PLC’s holdings in Autodesk were worth $9,123,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in Autodesk during the 4th quarter valued at approximately $867,480,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Autodesk by 44,345.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock worth $675,055,000 after acquiring an additional 2,275,384 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock worth $884,884,000 after acquiring an additional 952,343 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Autodesk by 103.5% in the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company’s stock worth $552,994,000 after acquiring an additional 950,149 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Autodesk by 80.2% during the first quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company’s stock valued at $503,521,000 after acquiring an additional 936,388 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Guggenheim began coverage on Autodesk in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $245.00 price target for the company. BNP Paribas Exane began coverage on shares of Autodesk in a research report on Thursday, June 18th. They set an “outperform” rating and a $295.00 price objective on the stock. Robert W. Baird reduced their price objective on shares of Autodesk from $355.00 to $312.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $330.00 target price on shares of Autodesk in a report on Monday, June 1st. Finally, Wells Fargo & Company dropped their target price on shares of Autodesk from $350.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.40.

Autodesk Stock Up 0.2%

ADSK stock opened at $234.71 on Tuesday. The stock has a market capitalization of $49.52 billion, a P/E ratio of 34.21, a P/E/G ratio of 1.44 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09. The business has a fifty day moving average price of $214.11 and a 200-day moving average price of $233.01.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm posted $2.29 earnings per share. Autodesk’s revenue was up 18.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Equities analysts forecast that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Stacy J. Smith purchased 3,435 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of $231.17 per share, with a total value of $794,068.95. Following the acquisition, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. The trade was a 14.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Janesh Moorjani acquired 2,500 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the acquisition, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 7,935 shares of company stock valued at $1,666,644 in the last 90 days. 0.14% of the stock is currently owned by insiders.

About Autodesk

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.