Parnassus Investments LLC Has $84.06 Million Stake in Autodesk, Inc. $ADSK

Parnassus Investments LLC decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 283,980 shares of the software company’s stock after selling 20,663 shares during the quarter. Parnassus Investments LLC owned 0.13% of Autodesk worth $84,061,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. OFI Invest Asset Management grew its holdings in shares of Autodesk by 246.4% during the fourth quarter. OFI Invest Asset Management now owns 52,649 shares of the software company’s stock worth $15,585,000 after purchasing an additional 37,449 shares during the last quarter. Freemont Management S.A. bought a new stake in shares of Autodesk during the third quarter worth about $4,765,000. Caprock Group LLC bought a new stake in shares of Autodesk during the third quarter worth about $2,288,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Autodesk by 46.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 532,504 shares of the software company’s stock worth $157,627,000 after purchasing an additional 169,099 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Autodesk by 0.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 946,476 shares of the software company’s stock worth $280,166,000 after purchasing an additional 4,845 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Loop Capital reduced their price target on Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a report on Friday, May 29th. UBS Group reiterated a “buy” rating on shares of Autodesk in a report on Friday, May 29th. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Arete Research reduced their target price on Autodesk from $460.00 to $456.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, Zacks Research cut Autodesk from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $327.21.

Insider Activity

In other Autodesk news, Director Stacy J. Smith purchased 3,435 shares of the business’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the acquisition, the director owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK stock opened at $205.57 on Friday. The business’s 50 day simple moving average is $236.34 and its 200 day simple moving average is $255.92. Autodesk, Inc. has a one year low of $204.80 and a one year high of $329.09. The stock has a market capitalization of $43.38 billion, a PE ratio of 29.97, a PEG ratio of 1.36 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.84 by $0.15. The business had revenue of $1.93 billion for 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 firm’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 earnings per share. 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, research analysts forecast that Autodesk, Inc. will post 9.64 earnings per share 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.