Banque Pictet & Cie SA Sells 3,560 Shares of Autodesk, Inc. $ADSK

Banque Pictet & Cie SA reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 44,140 shares of the software company’s stock after selling 3,560 shares during the period. Banque Pictet & Cie SA’s holdings in Autodesk were worth $13,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new position in shares of Autodesk during the 3rd quarter valued at $25,000. Proffitt & Goodson Inc. purchased a new stake in Autodesk in the 3rd quarter worth about $27,000. Heartwood Wealth Advisors LLC purchased a new stake in Autodesk in the 3rd quarter worth about $28,000. Tripletail Wealth Management LLC bought a new stake in Autodesk in the 3rd quarter valued at about $29,000. Finally, Financial Consulate Inc. bought a new stake in Autodesk in the 3rd quarter valued at about $32,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Down 0.6%

Shares of NASDAQ ADSK opened at $237.87 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.82. The company has a market cap of $50.19 billion, a P/E ratio of 45.40, a P/E/G ratio of 1.59 and a beta of 1.43. Autodesk, Inc. has a 52 week low of $215.01 and a 52 week high of $329.09. The business has a 50-day simple moving average of $244.75 and a two-hundred day simple moving average of $281.02.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, February 26th. The software company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.21. Autodesk had a return on equity of 53.51% and a net margin of 15.60%.The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business posted $2.29 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.290-12.560 EPS and its Q1 2027 guidance at 2.820-2.860 EPS. Research analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research reports. DA Davidson cut their target price on shares of Autodesk from $375.00 to $325.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Wells Fargo & Company lowered their price target on shares of Autodesk from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Argus upgraded shares of Autodesk to a “strong-buy” rating in a research note on Friday, March 6th. Royal Bank Of Canada cut their price objective on shares of Autodesk from $340.00 to $335.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Finally, Wolfe Research lifted their price objective on shares of Autodesk from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $342.81.

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.