Principal Financial Group Inc. Acquires 12,766 Shares of Autodesk, Inc. $ADSK

Principal Financial Group Inc. boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 316,225 shares of the software company’s stock after purchasing an additional 12,766 shares during the period. Principal Financial Group Inc.’s holdings in Autodesk were worth $93,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Torren Management LLC acquired a new position in shares of Autodesk in the fourth quarter valued at $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Autodesk during the 3rd quarter worth about $25,000. Archer Investment Corp boosted its holdings in shares of Autodesk by 112.2% during 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 period. High Point Wealth Management LLC bought a new stake in shares of Autodesk during the 4th quarter worth about $44,000. Finally, iSAM Funds UK Ltd acquired a new position in Autodesk in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Trading Down 2.6%

ADSK opened at $242.95 on Thursday. The stock has a market capitalization of $51.34 billion, a price-to-earnings ratio of 46.36, a P/E/G ratio of 1.65 and a beta of 1.32. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.82. Autodesk, Inc. has a twelve month low of $214.10 and a twelve month high of $329.09. The company has a 50-day simple moving average of $241.68 and a 200 day simple moving average of $267.91.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, February 26th. The software company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.64 by $0.21. Autodesk had a net margin of 15.60% and a return on equity of 53.51%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm earned $2.29 EPS. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.290-12.560 EPS and its Q1 2027 guidance at 2.820-2.860 EPS. Analysts predict that Autodesk, Inc. will post 9.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ADSK shares. Royal Bank Of Canada cut their price objective on shares of Autodesk from $340.00 to $335.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. DA Davidson reduced their price target on Autodesk from $375.00 to $325.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Arete Research lowered their price objective on Autodesk from $460.00 to $456.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Autodesk in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Autodesk from $319.00 to $336.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $335.93.

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.