GraniteShares Advisors LLC Sells 2,579 Shares of Autodesk, Inc. $ADSK

GraniteShares Advisors LLC lessened its position in Autodesk, Inc. (NASDAQ:ADSK) by 89.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 296 shares of the software company’s stock after selling 2,579 shares during the period. GraniteShares Advisors LLC’s holdings in Autodesk were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in ADSK. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Autodesk by 12.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,180 shares of the software company’s stock worth $48,661,000 after purchasing an additional 17,358 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Autodesk by 18.7% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 130,669 shares of the software company’s stock worth $41,510,000 after buying an additional 20,543 shares in the last quarter. Pacific Heights Asset Management LLC boosted its position in shares of Autodesk by 26.9% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 85,000 shares of the software company’s stock worth $27,002,000 after acquiring an additional 18,000 shares in the last quarter. Freemont Management S.A. bought a new position in shares of Autodesk in the 3rd quarter valued at $4,765,000. Finally, Renaissance Group LLC bought a new position in Autodesk in the third quarter valued at about $33,789,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on ADSK shares. Rothschild & Co Redburn set a $375.00 target price on shares of Autodesk in a research note on Friday, January 9th. Loop Capital lowered their price target on shares of Autodesk from $320.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, February 19th. Citigroup upped their target price on Autodesk from $315.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. BMO Capital Markets reduced their price target on shares of Autodesk from $343.00 to $279.00 and set a “market perform” rating for the company in a report on Monday, March 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Autodesk from $319.00 to $336.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $342.81.

Autodesk Price Performance

ADSK stock opened at $238.08 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $50.23 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 1.58 and a beta of 1.43. The firm’s 50-day moving average price is $243.47 and its two-hundred day moving average price is $279.87. Autodesk, Inc. has a 12-month low of $215.01 and a 12-month high of $329.09.

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

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.