Autodesk, Inc. $ADSK Stock Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 55,916 shares of the software company’s stock after selling 3,627 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Autodesk were worth $11,686,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ADSK. Stableford Capital II LLC acquired a new position in Autodesk in the 3rd quarter valued at $1,077,000. GAMMA Investing LLC raised its position in Autodesk by 17.0% in the third quarter. GAMMA Investing LLC now owns 5,929 shares of the software company’s stock worth $1,239,000 after acquiring an additional 861 shares in the last quarter. Galvin Gaustad & Stein LLC acquired a new stake in shares of Autodesk in the third quarter valued at about $8,853,000. Invariant Investment Management purchased a new stake in shares of Autodesk during the 3rd quarter worth approximately $544,000. Finally, Farther Finance Advisors LLC boosted its position in Autodesk by 6.7% during the third quarter. Farther Finance Advisors LLC now owns 9,293 shares of the software company’s stock worth $1,942,000 after purchasing an additional 581 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Up 0.7%

NASDAQ:ADSK traded up $1.69 on Friday, reaching $235.28. The stock had a trading volume of 549,412 shares, compared to its average volume of 2,304,258. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month high of $320.00. The company has a 50-day moving average of $233.13 and a 200 day moving average of $228.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. The stock has a market cap of $49.17 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 1.56 and a beta of 1.33.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.18. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.Autodesk’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.62 EPS. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. On average, research analysts predict that Autodesk, Inc. will post 9.71 earnings per share for the current year.

Analysts Set New Price Targets

ADSK has been the subject of a number of recent research reports. Weiss Ratings raised shares of Autodesk from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. The Goldman Sachs Group upgraded Autodesk from a “hold” rating to an “outperform” rating and set a $265.00 price objective for the company in a research report on Thursday, September 17th. Cantor Fitzgerald assumed coverage on shares of Autodesk in a research note on Monday, September 14th. They set a “neutral” rating and a $215.00 price objective on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $305.00 price target on shares of Autodesk in a research note on Thursday, September 17th. Finally, BNP Paribas Exane boosted their price objective on shares of Autodesk from $295.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $316.84.

About Autodesk

Autodesk, Inc develops software and cloud-based services for people and organizations involved in architecture, engineering, construction, manufacturing, media and entertainment, and other design-related industries. Its tools help customers create, visualize, simulate and manage digital models and workflows throughout the product and building lifecycle.

The company’s products include AutoCAD for computer-aided design; Revit for building information modeling; Civil 3D for civil engineering and infrastructure design; Inventor and Fusion for product design and manufacturing; and Maya, 3ds Max and Arnold for media and entertainment production.