Pictet Asset Management Holding SA Acquires 333,485 Shares of Autodesk, Inc. $ADSK

Pictet Asset Management Holding SA lifted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 12.1% in the third quarter, Holdings Channel.com reports. The fund owned 3,080,128 shares of the software company’s stock after purchasing an additional 333,485 shares during the period. Pictet Asset Management Holding SA’s holdings in Autodesk were worth $643,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Autodesk during the 2nd quarter valued at $4,828,855,000. Bank of America Corp DE purchased a new stake in shares of Autodesk in the 2nd quarter valued at about $576,727,000. Legal & General Group Plc purchased a new stake in Autodesk in the second quarter valued at approximately $422,928,000. Deutsche Bank AG purchased a new stake in shares of Autodesk during the 2nd quarter valued at $322,851,000. Finally, Bank of New York Mellon Corp purchased a new stake in Autodesk during the second quarter valued at about $228,908,000. 90.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ADSK. Argus restated a “buy” rating and issued a $355.00 price objective on shares of Autodesk in a report on Wednesday, September 2nd. BNP Paribas Exane raised their price target on Autodesk from $295.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Piper Sandler initiated coverage on Autodesk in a research note on Monday, September 28th. They issued an “overweight” rating and a $300.00 price target on the stock. The Goldman Sachs Group raised shares of Autodesk from a “hold” rating to an “outperform” rating and set a $265.00 price objective for the company in a research note on Thursday, September 17th. Finally, New Street Research set a $277.00 target price on Autodesk in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $316.84.

Autodesk Stock Performance

Shares of ADSK opened at $261.72 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average price is $232.98 and its 200-day moving average price is $234.13. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week high of $320.00. The stock has a market cap of $54.70 billion, a P/E ratio of 33.86, a P/E/G ratio of 1.73 and a beta of 1.27.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.18. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm posted $2.62 EPS. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Equities research analysts anticipate that Autodesk, Inc. will post 9.70 earnings per share for the current fiscal year.

About Autodesk

Autodesk, Inc develops software and cloud-based services for designing, building, making, and creating digital media. Its tools support professionals and organizations across architecture, engineering, construction, manufacturing, and entertainment.

The company’s products include AutoCAD for computer-aided design, Revit for building information modeling, Fusion for product design and manufacturing, and Maya and 3ds Max for 3D animation and visual effects. Autodesk also offers cloud services that help customers collaborate and manage design and construction projects.

Founded in 1982, Autodesk serves customers around the world.