Sumitomo Mitsui Trust Group Inc. Boosts Position in Autodesk, Inc. $ADSK

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,032,443 shares of the software company’s stock after purchasing an additional 85,967 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Autodesk were worth $247,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new position in shares of Autodesk during the third quarter valued at approximately $25,000. Torren Management LLC bought a new stake in Autodesk in the 4th quarter worth about $25,000. Kemnay Advisory Services Inc. bought a new position in Autodesk during the fourth quarter valued at approximately $25,000. Archer Investment Corp boosted its stake 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 buying an additional 46 shares during the last quarter. Finally, Prosperity Bancshares Inc purchased a new position in Autodesk in the fourth quarter worth about $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the purchase, the director owned 4,000 shares in the company, valued at approximately $756,800. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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, for a total transaction of $494,175.00. Following the completion of the acquisition, the executive vice president owned 50,993 shares of the company’s stock, valued at $10,079,786.31. The trade was a 5.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 7,935 shares of company stock valued at $1,666,644 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of analyst reports. Piper Sandler reduced their price target on Autodesk from $383.00 to $369.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Rothschild & Co Redburn reduced their price objective on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Autodesk in a research note on Wednesday, June 3rd. Finally, BTIG Research restated a “buy” rating and set a $300.00 price objective on shares of Autodesk 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 assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $326.10.

Autodesk Trading Up 1.2%

NASDAQ:ADSK opened at $208.58 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $44.01 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.27 and a beta of 1.32. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week high of $329.09. The firm has a 50 day moving average of $221.23 and a 200 day moving average of $241.60.

Autodesk (NASDAQ:ADSK) last announced its earnings results 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. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. 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, sell-side analysts anticipate that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Autodesk 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.