Cambridge Investment Research Advisors Inc. Trims Position in Autodesk, Inc. $ADSK

Cambridge Investment Research Advisors Inc. decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 28.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,221 shares of the software company’s stock after selling 4,833 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Autodesk were worth $2,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Torren Management LLC purchased a new position in Autodesk during the fourth quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Autodesk in the 3rd quarter valued at about $25,000. Kemnay Advisory Services Inc. purchased a new stake in Autodesk in the 4th quarter valued at about $25,000. Archer Investment Corp increased its stake in shares of Autodesk by 112.2% during the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in shares of Autodesk during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling

In related news, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the acquisition, the director directly owned 4,000 shares in the company, valued at $756,800. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Janesh Moorjani acquired 2,500 shares of the stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $197.67 per share, with a total value of $494,175.00. Following the transaction, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 7,935 shares of company stock valued at $1,666,644. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADSK. KeyCorp decreased their target price on shares of Autodesk from $365.00 to $341.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Guggenheim began coverage on shares of Autodesk in a research report on Wednesday, July 22nd. They set a “buy” rating and a $245.00 price target for the company. UBS Group reiterated a “buy” rating on shares of Autodesk in a report on Friday, May 29th. Weiss Ratings downgraded Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Morgan Stanley reduced their target price on Autodesk from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.07.

Autodesk Stock Up 3.4%

Shares of NASDAQ ADSK opened at $257.96 on Friday. The stock has a fifty day moving average price of $215.88 and a 200 day moving average price of $232.15. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month high of $329.09. The company has a market cap of $54.43 billion, a P/E ratio of 37.60, a P/E/G ratio of 1.53 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The company’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. Research analysts anticipate that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

Autodesk Profile

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.