Advent International L.P. Sells 10,905 Shares of Autodesk, Inc. $ADSK

Advent International L.P. decreased its position in Autodesk, Inc. (NASDAQ:ADSK) by 21.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,410 shares of the software company’s stock after selling 10,905 shares during the period. Autodesk accounts for about 0.2% of Advent International L.P.’s investment portfolio, making the stock its 24th biggest position. Advent International L.P.’s holdings in Autodesk were worth $9,674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. SummitTX Capital L.P. lifted its holdings in shares of Autodesk by 26.8% in the 1st quarter. SummitTX Capital L.P. now owns 4,529 shares of the software company’s stock worth $1,084,000 after buying an additional 958 shares during the period. Lazard Asset Management LLC increased its stake in shares of Autodesk by 11.4% during the first quarter. Lazard Asset Management LLC now owns 1,248,808 shares of the software company’s stock valued at $298,965,000 after buying an additional 128,159 shares during the period. Castleark Management LLC purchased a new position in shares of Autodesk during the first quarter valued at $7,646,000. Weiss Asset Management LP bought a new stake in shares of Autodesk in the first quarter valued at about $8,536,000. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Autodesk by 5.1% in the first quarter. OMERS ADMINISTRATION Corp now owns 47,464 shares of the software company’s stock valued at $11,363,000 after acquiring an additional 2,286 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ADSK. Zacks Research cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Piper Sandler reduced their price target on shares of Autodesk from $383.00 to $369.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Morgan Stanley lowered their price target on shares of Autodesk from $350.00 to $315.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. DA Davidson reaffirmed a “buy” rating and issued a $325.00 price target on shares of Autodesk in a research report on Friday, May 29th. Finally, Bank of America reiterated a “buy” rating and set a $300.00 price objective on shares of Autodesk in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $323.40.

Autodesk Trading Up 7.7%

Shares of NASDAQ ADSK opened at $225.91 on Tuesday. 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 stock has a market capitalization of $47.67 billion, a P/E ratio of 32.93, a price-to-earnings-growth 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. The business has a fifty day moving average price of $214.58 and a 200 day moving average price of $234.47.

Autodesk (NASDAQ:ADSK) last posted 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 company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm 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 research analysts expect that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Insider Activity

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

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.