Resona Asset Management Co. Ltd. Sells 3,019 Shares of Autodesk, Inc. $ADSK

Resona Asset Management Co. Ltd. cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other hedge funds have also recently made changes to their positions in ADSK. Measured Wealth Private Client Group LLC purchased a new position in Autodesk in the third quarter valued at about $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk in the 4th quarter valued at about $25,000. Torren Management LLC bought a new stake in shares of Autodesk in the 4th quarter valued at about $25,000. Archer Investment Corp grew its position 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 shares of Autodesk in the 4th quarter worth approximately $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Autodesk

In related news, Director Stacy J. Smith acquired 3,435 shares of the stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the transaction, the director owned 26,517 shares in the company, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased 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 in the company, valued at approximately $756,800. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is owned by company insiders.

Autodesk Price Performance

Shares of ADSK opened at $257.96 on Friday. The business’s 50-day moving average is $215.88 and its two-hundred day moving average is $232.15. The company has a market capitalization 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. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. Autodesk, Inc. has a fifty-two week low of $185.50 and a fifty-two week high of $329.09.

Autodesk (NASDAQ:ADSK) last issued 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. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. The company’s revenue for the quarter 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. Research analysts predict that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADSK. Royal Bank Of Canada reduced their price target on Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. Barclays lowered their price objective on Autodesk from $315.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. KeyCorp dropped their target price on Autodesk from $365.00 to $341.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Citigroup upped their target price on Autodesk from $246.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Wells Fargo & Company decreased their price target on Autodesk from $350.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $321.07.

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.