Sumitomo Mitsui Trust Group Inc. Increases Stake in Autodesk, Inc. $ADSK

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,080,436 shares of the software company’s stock after purchasing an additional 47,993 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Autodesk were worth $210,058,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Torren Management LLC purchased a new position in Autodesk in the fourth quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Autodesk in the 3rd quarter valued at approximately $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $25,000. Archer Investment Corp raised 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 valued at $26,000 after purchasing an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Autodesk in the 4th quarter valued at $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $251.66 on Friday. The company’s fifty day moving average price is $216.31 and its 200 day moving average price is $232.28. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $329.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $53.10 billion, a P/E ratio of 36.69, a P/E/G ratio of 1.58 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the company earned $2.29 earnings per share. Autodesk’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 predict that Autodesk, Inc. will post 9.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on ADSK. Rothschild & Co Redburn lowered their target price on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Wells Fargo & Company cut their price target on Autodesk from $350.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Loop Capital decreased their price target on Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a report on Friday, May 29th. Guggenheim assumed coverage on Autodesk in a research report on Wednesday, July 22nd. They set a “buy” rating and a $245.00 price objective for the company. Finally, BTIG Research reiterated a “buy” rating and issued a $300.00 price objective on shares of Autodesk in a report 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $321.07.

Insider Activity

In other news, EVP Janesh Moorjani purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This represents a 5.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill purchased 2,000 shares of the business’s stock in a transaction on 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 transaction, the director owned 4,000 shares of the company’s stock, valued at $756,800. This trade represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 7,935 shares of company stock valued at $1,666,644. Insiders own 0.14% of the company’s stock.

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.