Florida Trust Wealth Management Co Sells 5,318 Shares of Autodesk, Inc. $ADSK

Florida Trust Wealth Management Co trimmed its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 33.8% during the second quarter, Holdings Channel.com reports. The firm owned 10,397 shares of the software company’s stock after selling 5,318 shares during the period. Florida Trust Wealth Management Co’s holdings in Autodesk were worth $2,021,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Autodesk during the 4th quarter valued at $867,480,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Autodesk by 44,345.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock valued at $675,055,000 after buying an additional 2,275,384 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Autodesk by 46.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock valued at $884,884,000 after buying an additional 952,343 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Autodesk by 103.5% during the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company’s stock worth $552,994,000 after acquiring an additional 950,149 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Autodesk by 80.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company’s stock worth $503,521,000 after acquiring an additional 936,388 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Up 3.4%

ADSK opened at $257.96 on Friday. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09. The company’s 50-day moving average price is $215.88 and its two-hundred day moving average price is $232.15. The stock has a market cap of $54.43 billion, a price-to-earnings ratio of 37.60, a PEG ratio of 1.53 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78.

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, topping the consensus estimate of $2.84 by $0.15. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 EPS. 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, equities analysts expect that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Rothschild & Co Redburn cut their price target on Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Loop Capital lowered their price objective on Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a research note on Friday, May 29th. Barclays dropped their target price on Autodesk from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and set a $300.00 price target on shares of Autodesk in a report on Friday, May 29th. Finally, BNP Paribas Exane assumed coverage on Autodesk in a research report on Thursday, June 18th. They issued an “outperform” rating and a $295.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $321.07.

Insiders Place Their Bets

In other news, EVP Janesh Moorjani bought 2,500 shares of the stock in a transaction on 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 completion of the purchase, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. This represents a 5.16% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stacy J. Smith purchased 3,435 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the transaction, the director directly owned 26,517 shares in the company, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 7,935 shares of company stock valued at $1,666,644 over the last ninety days. 0.14% of the stock is currently owned by insiders.

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.