Essential Partners LLC Sells 3,214 Shares of Autodesk, Inc. $ADSK

Essential Partners LLC reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 90.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 344 shares of the software company’s stock after selling 3,214 shares during the quarter. Essential Partners LLC’s holdings in Autodesk were worth $82,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupe la Francaise boosted its stake in shares of Autodesk by 14.6% in the 1st quarter. Groupe la Francaise now owns 27,211 shares of the software company’s stock valued at $6,514,000 after purchasing an additional 3,465 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Autodesk during the 1st quarter worth about $8,594,000. Paragon Private Wealth Management LLC increased its position in shares of Autodesk by 25.8% during the 1st quarter. Paragon Private Wealth Management LLC now owns 1,254 shares of the software company’s stock worth $300,000 after purchasing an additional 257 shares in the last quarter. Kentucky Retirement Systems lifted its holdings in Autodesk by 39.2% during the 1st quarter. Kentucky Retirement Systems now owns 18,626 shares of the software company’s stock valued at $4,459,000 after purchasing an additional 5,250 shares during the last quarter. Finally, Rokos Capital Management LLP bought a new position in Autodesk during the 1st quarter valued at about $3,513,000. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Down 0.3%

Shares of NASDAQ ADSK opened at $234.20 on Friday. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month high of $329.09. The firm’s 50-day simple moving average is $214.23 and its 200 day simple moving average is $233.57. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The company has a market cap of $49.42 billion, a price-to-earnings ratio of 34.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32.

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

Analysts Set New Price Targets

A number of equities analysts have commented on ADSK shares. Citigroup boosted their price target on shares of Autodesk from $246.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Barclays dropped their price objective on shares of Autodesk from $315.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. KeyCorp cut their target price on shares of Autodesk from $365.00 to $341.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. 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, Bank of America restated a “buy” rating and set a $300.00 price target on shares of Autodesk in a research report on Tuesday, May 12th. Three 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.40.

Insider Activity

In other news, EVP Janesh Moorjani bought 2,500 shares of the stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of $197.67 per share, with a total value of $494,175.00. Following the purchase, the executive vice president owned 50,993 shares of the company’s stock, valued at approximately $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average price of $189.20 per share, with a total value of $378,400.00. Following the transaction, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 7,935 shares of company stock valued at $1,666,644 over the last three months. 0.14% of the stock is owned by insiders.

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.