Clearbridge Investments LLC Trims Stock Holdings in Autodesk, Inc. $ADSK

Clearbridge Investments LLC trimmed its position in Autodesk, Inc. (NASDAQ:ADSK) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,844,472 shares of the software company’s stock after selling 115,864 shares during the period. Clearbridge Investments LLC’s holdings in Autodesk were worth $545,982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. Norges Bank purchased a new stake in Autodesk in the fourth quarter worth $867,480,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 worth $675,055,000 after acquiring an additional 2,275,384 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Autodesk by 326.9% in the third quarter. Wellington Management Group LLP now owns 918,010 shares of the software company’s stock worth $291,624,000 after acquiring an additional 702,974 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Autodesk by 197.1% in the third quarter. First Trust Advisors LP now owns 910,768 shares of the software company’s stock worth $289,324,000 after acquiring an additional 604,235 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Autodesk by 51,159.6% in the third quarter. Two Sigma Investments LP now owns 512,596 shares of the software company’s stock worth $162,836,000 after acquiring an additional 511,596 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ADSK. Wolfe Research increased their target price on Autodesk from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $330.00 target price on shares of Autodesk in a research note on Monday, June 1st. Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a research note on Tuesday, May 26th. BTIG Research reissued a “buy” rating and issued a $300.00 target price on shares of Autodesk in a research note on Friday, May 29th. Finally, Robert W. Baird cut their target price on Autodesk from $355.00 to $312.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $327.21.

Autodesk Trading Down 1.6%

Shares of NASDAQ:ADSK opened at $229.96 on Friday. The company has a market cap of $48.52 billion, a P/E ratio of 33.52, a PEG ratio of 1.46 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 0.85. Autodesk, Inc. has a 1 year low of $214.10 and a 1 year high of $329.09. The stock’s fifty day moving average price is $237.72 and its 200-day moving average price is $258.17.

Autodesk (NASDAQ:ADSK) last announced 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. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $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. Sell-side analysts expect that Autodesk, Inc. will post 9.55 earnings per share for the current year.

Insider Activity

In other Autodesk news, Director Stacy J. Smith purchased 3,435 shares of the stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. This trade represents a 14.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by insiders.

More Autodesk News

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk signed a strategic collaboration agreement with AWS to bring cloud-based products into AWS Marketplace and improve cloud solutions for customers, which could widen distribution and strengthen enterprise adoption. Autodesk signs strategic collaboration agreement with Amazon Web Services
• Positive Sentiment: Autodesk lowered the minimum buy-in for Autodesk Flex to 33 tokens for $99 from 100 tokens for $300, making it easier and cheaper for small businesses to start using its products and potentially expanding its user base. Autodesk for Small Business update: Making it more affordable to get started with Autodesk Flex

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.