Bank of New York Mellon Corp Decreases Position in Autodesk, Inc. $ADSK

Bank of New York Mellon Corp cut its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 3.1% during the 1st quarter, Holdings Channel reports. The firm owned 1,238,555 shares of the software company’s stock after selling 39,091 shares during the period. Bank of New York Mellon Corp’s holdings in Autodesk were worth $296,510,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC raised its holdings in Autodesk by 20.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,716 shares of the software company’s stock worth $411,000 after purchasing an additional 292 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Autodesk by 38.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 4,360 shares of the software company’s stock worth $1,044,000 after acquiring an additional 1,200 shares during the period. ABC Arbitrage SA purchased a new stake in Autodesk in the first quarter worth $322,000. Calamos Wealth Management LLC raised its holdings in Autodesk by 17.8% in the first quarter. Calamos Wealth Management LLC now owns 1,698 shares of the software company’s stock worth $407,000 after purchasing an additional 256 shares in the last quarter. Finally, Calamos Advisors LLC grew its holdings in Autodesk by 3.9% in the first quarter. Calamos Advisors LLC now owns 44,962 shares of the software company’s stock worth $10,764,000 after purchasing an additional 1,698 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Autodesk

In related news, Director Stacy J. Smith bought 3,435 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of $197.67 per share, with a total value of $494,175.00. Following the purchase, the executive vice president owned 50,993 shares in the company, valued at $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ADSK. Loop Capital cut their price target on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Wells Fargo & Company dropped their price objective on Autodesk from $350.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Robert W. Baird decreased their target price on Autodesk from $355.00 to $312.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Weiss Ratings cut Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Citigroup lifted their price objective on Autodesk from $246.00 to $252.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $326.10.

Autodesk Trading Up 0.6%

ADSK opened at $218.35 on Friday. Autodesk, Inc. has a one year low of $185.50 and a one year high of $329.09. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $46.07 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 1.34 and a beta of 1.32. The stock’s 50 day moving average price is $217.43 and its 200-day moving average price is $238.34.

Autodesk (NASDAQ:ADSK) last issued its 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 analysts’ expectations of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business 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, equities analysts forecast that Autodesk, Inc. will post 9.64 EPS for the current year.

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.