Parnassus Investments LLC Sells 20,663 Shares of Autodesk, Inc. $ADSK

Parnassus Investments LLC trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 283,980 shares of the software company’s stock after selling 20,663 shares during the period. Parnassus Investments LLC’s holdings in Autodesk were worth $84,061,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Torren Management LLC bought a new position in shares of Autodesk in the 4th quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Autodesk in the 3rd quarter worth $25,000. Archer Investment Corp lifted its holdings in shares of Autodesk by 112.2% in the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock worth $26,000 after purchasing an additional 46 shares in the last quarter. High Point Wealth Management LLC bought a new position in shares of Autodesk in the 4th quarter worth $44,000. Finally, iSAM Funds UK Ltd bought a new position in shares of Autodesk in the 3rd quarter worth $46,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $205.57 on Friday. 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 stock’s fifty day simple moving average is $236.34 and its two-hundred day simple moving average is $255.92. Autodesk, Inc. has a 1-year low of $204.80 and a 1-year high of $329.09. The stock has a market cap of $43.38 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business earned $2.29 EPS. The business’s 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, analysts forecast that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stacy J. Smith acquired 3,435 shares of the company’s stock in a transaction on 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 purchase, the director owned 26,517 shares in the company, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADSK. Weiss Ratings reiterated a “hold (c)” rating on shares of Autodesk in a report on Wednesday, June 3rd. Arete Research cut their target price on Autodesk from $460.00 to $456.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. KeyCorp cut their target price on Autodesk from $365.00 to $341.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Piper Sandler cut their target price on Autodesk from $383.00 to $369.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, Loop Capital cut their target price on Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $327.21.

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.