Resona Asset Management Co. Ltd. Cuts Position in Autodesk, Inc. $ADSK

Resona Asset Management Co. Ltd. lowered its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,576 shares of the software company’s stock after selling 3,019 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Autodesk were worth $14,316,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC grew its stake in Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock valued at $343,000 after acquiring an additional 147 shares during the period. Sivia Capital Partners LLC raised its position in Autodesk by 98.1% during the second quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company’s stock worth $765,000 after acquiring an additional 1,224 shares during the period. Schnieders Capital Management LLC. acquired a new position in Autodesk during the second quarter worth $466,000. Baird Financial Group Inc. lifted its holdings in Autodesk by 7.5% during the second quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company’s stock valued at $3,111,000 after purchasing an additional 701 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Autodesk by 25.3% in the second quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company’s stock valued at $4,291,000 after purchasing an additional 2,795 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Autodesk

In related news, Director Stacy J. Smith acquired 3,435 shares of Autodesk stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the transaction, the director owned 26,517 shares in the company, valued at $6,129,934.89. This represents a 14.88% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Cahill acquired 2,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the purchase, the director directly owned 4,000 shares of the company’s stock, valued at $756,800. The trade was a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 7,935 shares of company stock worth $1,666,644 in the last ninety days. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $257.96 on Friday. The company has a market cap of $54.43 billion, a P/E ratio of 37.60, a P/E/G ratio of 1.53 and a beta of 1.29. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09. The company’s 50-day moving average price is $215.88 and its 200-day moving average price is $232.15. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.15. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 EPS. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. On average, sell-side analysts forecast that Autodesk, Inc. will post 9.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on ADSK. BTIG Research restated a “buy” rating and set a $300.00 price target on shares of Autodesk in a research report on Friday, May 29th. DA Davidson reiterated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research note on Friday, May 29th. Loop Capital reduced their target price on Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a report on Friday, May 29th. BMO Capital Markets decreased their target price on Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a research report on Friday, May 29th. Finally, Royal Bank Of Canada lowered their price target on Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $321.07.

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.