Autodesk, Inc. $ADSK Stock: M&G PLC Reduces Holdings

M&G PLC trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK) by 24.7% in the third quarter, Holdings Channel.com reports. The firm owned 212,037 shares of the software company’s stock after selling 69,521 shares during the quarter. M&G PLC’s holdings in Autodesk were worth $44,316,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Vestor Capital LLC boosted its stake in shares of Autodesk by 313.4% during the 3rd quarter. Vestor Capital LLC now owns 238,101 shares of the software company’s stock valued at $49,763,000 after buying an additional 180,507 shares during the period. Kestra Investment Management LLC increased its stake in shares of Autodesk by 29.0% in the third quarter. Kestra Investment Management LLC now owns 11,960 shares of the software company’s stock worth $2,500,000 after acquiring an additional 2,688 shares during the last quarter. AlphaCore Capital LLC increased its stake in shares of Autodesk by 354.4% in the third quarter. AlphaCore Capital LLC now owns 12,046 shares of the software company’s stock worth $2,518,000 after acquiring an additional 9,395 shares during the last quarter. Fulcrum Asset Management LLP raised its holdings in shares of Autodesk by 687.9% during the third quarter. Fulcrum Asset Management LLP now owns 3,987 shares of the software company’s stock worth $810,000 after acquiring an additional 3,481 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Autodesk by 4,328.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 974,966 shares of the software company’s stock worth $206,020,000 after acquiring an additional 952,948 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $305.00 target price on shares of Autodesk in a research note on Thursday, September 17th. Berenberg Bank set a $333.00 price target on Autodesk in a research note on Tuesday, September 1st. UBS Group reiterated a “buy” rating on shares of Autodesk in a report on Thursday, September 24th. KeyCorp reissued an “overweight” rating on shares of Autodesk in a research note on Wednesday, August 19th. Finally, Weiss Ratings upgraded Autodesk from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $317.62.

Autodesk Trading Up 0.6%

Autodesk stock opened at $263.35 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $55.04 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 1.79 and a beta of 1.27. Autodesk, Inc. has a one year low of $185.50 and a one year high of $320.00. The company’s fifty day moving average price is $233.03 and its two-hundred day moving average price is $234.16.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.18. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $2.62 earnings per share. 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, analysts forecast that Autodesk, Inc. will post 9.70 earnings per share for the current fiscal year.

Autodesk Company Profile

Autodesk, Inc develops software and cloud-based services for designing, building, making, and creating digital media. Its tools support professionals and organizations across architecture, engineering, construction, manufacturing, and entertainment.

The company’s products include AutoCAD for computer-aided design, Revit for building information modeling, Fusion for product design and manufacturing, and Maya and 3ds Max for 3D animation and visual effects. Autodesk also offers cloud services that help customers collaborate and manage design and construction projects.

Founded in 1982, Autodesk serves customers around the world.