GAMMA Investing LLC Trims Position in Autodesk, Inc. $ADSK

GAMMA Investing LLC trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 40.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,068 shares of the software company’s stock after selling 3,376 shares during the period. GAMMA Investing LLC’s holdings in Autodesk were worth $985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Autodesk by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company’s stock valued at $6,362,192,000 after purchasing an additional 78,928 shares during the period. State Street Corp raised its stake in shares of Autodesk by 0.7% during the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock valued at $3,006,818,000 after buying an additional 70,053 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Autodesk by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock valued at $1,677,404,000 after buying an additional 123,691 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Autodesk by 5.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock valued at $752,824,000 after acquiring an additional 155,255 shares in the last quarter. Finally, Norges Bank acquired a new position in Autodesk in the fourth quarter valued at approximately $867,480,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Autodesk from $246.00 to $252.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Bank of America reiterated a “buy” rating and issued a $300.00 price objective on shares of Autodesk in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. KeyCorp dropped their price target on Autodesk from $365.00 to $341.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Finally, Piper Sandler dropped their price target on Autodesk from $383.00 to $369.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $323.40.

Autodesk Trading Up 2.7%

Shares of ADSK opened at $249.08 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month high of $329.09. The firm has a 50-day moving average price of $214.54 and a 200 day moving average price of $232.63. The firm has a market capitalization of $52.56 billion, a P/E ratio of 36.31, a P/E/G ratio of 1.49 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping 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 period last year, the business earned $2.29 earnings per share. Autodesk’s 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. Sell-side analysts forecast that Autodesk, Inc. will post 9.64 EPS for the current year.

Insider Transactions at Autodesk

In other news, Director Stacy J. Smith purchased 3,435 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the acquisition, the director directly owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Janesh Moorjani purchased 2,500 shares of Autodesk stock in a transaction dated Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the transaction, the executive vice president owned 50,993 shares in the company, valued at approximately $10,079,786.31. This trade represents a 5.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 7,935 shares of company stock worth $1,666,644 in the last 90 days. Insiders own 0.14% of the company’s stock.

Autodesk 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.