Autodesk, Inc. $ADSK Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 41.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 50,607 shares of the software company’s stock after selling 36,305 shares during the quarter. Bank of Nova Scotia’s holdings in Autodesk were worth $12,115,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADSK. Vanguard Group Inc. increased its position in Autodesk by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company’s stock valued at $6,362,192,000 after acquiring an additional 78,928 shares during the period. State Street Corp lifted its position in Autodesk by 0.7% during the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock worth $3,006,818,000 after acquiring an additional 70,053 shares during the period. Geode Capital Management LLC lifted its position in Autodesk by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock worth $1,677,404,000 after acquiring an additional 123,691 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Autodesk by 46.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock valued at $884,884,000 after purchasing an additional 952,343 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Autodesk during the fourth quarter worth approximately $867,480,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Transactions at Autodesk

In related news, Director Stacy J. Smith acquired 3,435 shares of Autodesk stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the transaction, the director directly owned 26,517 shares of the company’s stock, valued at $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John T. Cahill bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $189.20 per share, with a total value of $378,400.00. Following the purchase, the director directly owned 4,000 shares in the company, valued at $756,800. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 7,935 shares of company stock valued at $1,666,644 over the last three months. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADSK. Guggenheim initiated coverage on shares of Autodesk in a research note on Wednesday. They issued a “buy” rating and a $245.00 price objective on the stock. Loop Capital dropped their price target on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a research note on Friday, May 29th. Barclays cut their price target on shares of Autodesk from $315.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. BNP Paribas Exane initiated coverage on Autodesk in a report on Thursday, June 18th. They issued an “outperform” rating and a $295.00 price target for the company. Finally, BTIG Research restated a “buy” rating and issued a $300.00 price target on shares of Autodesk in a research note 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 assigned a Hold rating to the company. Based on data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $323.40.

Autodesk Stock Performance

Shares of ADSK opened at $209.75 on Monday. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month high of $329.09. The stock has a market cap of $44.26 billion, a P/E ratio of 30.58, a PEG ratio of 1.29 and a beta of 1.32. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average of $214.93 and a two-hundred day moving average of $234.95.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating 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 business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. 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, research analysts predict that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

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.