abrdn plc Grows Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

abrdn plc raised its stake in Autodesk, Inc. (NASDAQ:ADSK) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 549,796 shares of the software company’s stock after buying an additional 44,710 shares during the period. abrdn plc owned about 0.25% of Autodesk worth $160,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ADSK. Eagle Bay Advisors LLC purchased a new stake in shares of Autodesk in the 2nd quarter worth approximately $27,000. Evoke Wealth LLC lifted its position in shares of Autodesk by 84.6% in the 1st quarter. Evoke Wealth LLC now owns 192 shares of the software company’s stock worth $53,000 after purchasing an additional 88 shares during the period. Burleson & Company LLC purchased a new stake in shares of Autodesk in the 1st quarter worth approximately $65,000. Optimum Investment Advisors lifted its position in shares of Autodesk by 600.0% in the 2nd quarter. Optimum Investment Advisors now owns 280 shares of the software company’s stock worth $82,000 after purchasing an additional 240 shares during the period. Finally, Ameritas Investment Company LLC purchased a new stake in shares of Autodesk in the 1st quarter worth approximately $80,000. 85.14% of the stock is owned by institutional investors.

Shares of ADSK stock traded up $3.17 during trading hours on Wednesday, hitting $282.52. The company’s stock had a trading volume of 17,547 shares, compared to its average volume of 1,310,957. The company has a 50 day moving average of $310.62 and a 200 day moving average of $291.84. The stock has a market cap of $62.11 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 2.81 and a beta of 1.32. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.23. Autodesk, Inc. has a 12-month low of $215.83 and a 12-month high of $344.39.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, August 24th. The software company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.13 by $0.08. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Autodesk had a net margin of 32.54% and a return on equity of 69.10%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. As a group, analysts anticipate that Autodesk, Inc. will post 2.89 earnings per share for the current fiscal year.

ADSK has been the subject of several recent analyst reports. Canaccord Genuity boosted their price objective on shares of Autodesk from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, August 26th. Mizuho reiterated a “buy” rating and set a $350.00 price objective (down previously from $370.00) on shares of Autodesk in a research note on Thursday, September 2nd. Guggenheim reiterated a “hold” rating on shares of Autodesk in a research note on Monday, September 6th. Stifel Nicolaus reduced their price objective on shares of Autodesk from $370.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, September 2nd. Finally, KeyCorp boosted their price objective on shares of Autodesk from $345.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $330.11.

In related news, CEO Andrew Anagnost sold 23,957 shares of the stock in a transaction on Thursday, August 26th. The shares were sold at an average price of $315.44, for a total transaction of $7,556,996.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Deborah Clifford sold 5,481 shares of the stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $289.81, for a total transaction of $1,588,448.61. The disclosure for this sale can be found here. Insiders sold a total of 32,134 shares of company stock worth $9,917,059 over the last ninety days. Insiders own 0.11% of the company’s stock.

Autodesk Profile

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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