Rakuten Investment Management Inc. Trims Stake in Autodesk, Inc. $ADSK

Rakuten Investment Management Inc. reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 95.3% in the fourth quarter, Holdings Channel reports. The firm owned 39,463 shares of the software company’s stock after selling 806,222 shares during the period. Rakuten Investment Management Inc.’s holdings in Autodesk were worth $11,887,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Autodesk during the 4th quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Autodesk during the 3rd quarter valued at $25,000. Archer Investment Corp grew its position in shares of Autodesk by 112.2% during the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. Swiss RE Ltd. purchased a new position in shares of Autodesk during the 4th quarter valued at $32,000. Finally, Abound Financial LLC purchased a new position in shares of Autodesk during the 4th quarter valued at $40,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Up 1.4%

Shares of NASDAQ:ADSK opened at $201.38 on Wednesday. Autodesk, Inc. has a 52-week low of $194.47 and a 52-week high of $329.09. The firm has a fifty day moving average of $234.03 and a 200 day moving average of $253.90. The firm has a market capitalization of $42.49 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.15. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. 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 anticipate that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ADSK shares. Zacks Research lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Stifel Nicolaus cut their target price on shares of Autodesk from $375.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Wells Fargo & Company cut their target price on shares of Autodesk from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Morgan Stanley cut their target price on shares of Autodesk from $350.00 to $315.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Finally, UBS Group reiterated a “buy” rating on shares of Autodesk in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $327.21.

Key Autodesk News

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: EVP Janesh Moorjani bought 2,500 shares of Autodesk at an average price of $197.67, a signal of insider confidence in the company’s outlook. Article Title
• Positive Sentiment: Autodesk entered into a new credit agreement to enhance liquidity, which may reassure investors about financial flexibility. Article Title
• Positive Sentiment: Several trading articles highlighted Autodesk as oversold and potentially near a bottom, suggesting some traders are betting on a rebound. Article Title
• Neutral Sentiment: Analyst sentiment remains constructive overall, with Autodesk carrying a “Moderate Buy” consensus and a high average price target, though several firms recently trimmed targets. Article Title
• Negative Sentiment: Unusually heavy put options activity and reports that the stock is near recent lows indicate some investors are still hedging for more downside. Article Title

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Stacy J. Smith purchased 3,435 shares of the stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $231.17 per share, with a total value of $794,068.95. Following the completion of the purchase, the director directly owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Janesh Moorjani purchased 2,500 shares of the stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the purchase, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.14% of the company’s stock.

Autodesk Company 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.