NewEdge Wealth LLC Sells 2,526 Shares of Autodesk, Inc. $ADSK

NewEdge Wealth LLC lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 25.3% during the first quarter, Holdings Channel reports. The firm owned 7,467 shares of the software company’s stock after selling 2,526 shares during the quarter. NewEdge Wealth LLC’s holdings in Autodesk were worth $1,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Citizens Bank & Trust Co. raised its holdings in shares of Autodesk by 21.8% during the first quarter. First Citizens Bank & Trust Co. now owns 1,301 shares of the software company’s stock valued at $311,000 after acquiring an additional 233 shares in the last quarter. First Trust Advisors LP increased its position in Autodesk by 137.7% during the 1st quarter. First Trust Advisors LP now owns 1,098,800 shares of the software company’s stock valued at $263,053,000 after purchasing an additional 636,528 shares during the period. Fortis Capital Management LLC raised its holdings in Autodesk by 4.3% in the 1st quarter. Fortis Capital Management LLC now owns 23,502 shares of the software company’s stock worth $5,626,000 after purchasing an additional 971 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new position in Autodesk in the 1st quarter worth $127,000. Finally, Summit Global Investments lifted its position in shares of Autodesk by 57.7% in the 1st quarter. Summit Global Investments now owns 4,275 shares of the software company’s stock worth $1,023,000 after purchasing an additional 1,565 shares during the period. Institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Stacy J. Smith bought 3,435 shares of the stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the acquisition, the director owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John T. Cahill purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director owned 4,000 shares in the company, valued at approximately $756,800. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 7,935 shares of company stock valued at $1,666,644. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ADSK. Piper Sandler cut their target price on shares of Autodesk from $383.00 to $369.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Jefferies Financial Group raised shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, May 26th. BTIG Research reaffirmed a “buy” rating and set a $300.00 price objective on shares of Autodesk in a research report on Friday, May 29th. Rothschild & Co Redburn reduced their target price on Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Finally, Wells Fargo & Company reduced their target price on Autodesk from $350.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $323.40.

Autodesk Price Performance

Shares of Autodesk stock opened at $209.75 on Monday. 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 company has a 50-day moving average of $214.93 and a 200 day moving average of $234.95. The firm has a market cap of $44.26 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.29 and a beta of 1.32. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $329.09.

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

Autodesk Company 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.