Autodesk (NASDAQ:ADSK) Stock Price Down 4.5% – Here’s What Happened

Autodesk, Inc. (NASDAQ:ADSK)’s share price was down 4.5% on Friday . The company traded as low as $196.57 and last traded at $196.3910. Approximately 789,054 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 2,198,612 shares. The stock had previously closed at $205.57.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ADSK shares. Zacks Research lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Royal Bank Of Canada cut their target price on shares of Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. Rosenblatt Securities restated a “buy” rating and issued a $330.00 target price on shares of Autodesk in a research report on Monday, June 1st. KeyCorp cut 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. Finally, BTIG Research restated a “buy” rating and issued a $300.00 target price on shares of Autodesk in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.21.

Autodesk Trading Down 3.3%

The firm has a market cap of $41.96 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 1.36 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. The firm’s fifty day moving average is $236.34 and its 200-day moving average is $255.92.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.15. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 earnings per share. 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 anticipate that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Insider Transactions at Autodesk

In other news, Director Stacy J. Smith bought 3,435 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the acquisition, the director directly owned 26,517 shares in the company, valued at approximately $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Autodesk

Several hedge funds and other institutional investors have recently bought and sold shares of ADSK. Norges Bank bought a new stake in Autodesk in the fourth quarter valued at $867,480,000. Northwestern Mutual Wealth Management Co. increased its stake 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 valued at $675,055,000 after purchasing an additional 2,275,384 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock valued at $884,884,000 after purchasing an additional 952,343 shares in the last quarter. Wellington Management Group LLP increased its stake in Autodesk by 103.5% in the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company’s stock valued at $552,994,000 after purchasing an additional 950,149 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Autodesk by 80.2% in 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 purchasing an additional 936,388 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

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.