Sumitomo Mitsui Trust Group Inc. Has $247.17 Million Stake in Autodesk, Inc. $ADSK

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,032,443 shares of the software company’s stock after purchasing an additional 85,967 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.49% of Autodesk worth $247,167,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management increased its stake in shares of Autodesk by 246.4% in the fourth quarter. OFI Invest Asset Management now owns 52,649 shares of the software company’s stock valued at $15,585,000 after buying an additional 37,449 shares during the period. SG Americas Securities LLC boosted its stake in Autodesk by 158.4% during the first quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock worth $65,248,000 after acquiring an additional 167,064 shares in the last quarter. Man Group plc increased its position in Autodesk by 28.6% in the 4th quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock valued at $364,076,000 after buying an additional 273,765 shares in the last quarter. Robeco Institutional Asset Management B.V. increased 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 valued at $157,627,000 after acquiring an additional 169,099 shares in the last quarter. Finally, Schnieders Capital Management LLC. acquired a new position in Autodesk during the second quarter worth $466,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Price Performance

NASDAQ:ADSK opened at $208.58 on Friday. Autodesk, Inc. has a 52-week low of $185.50 and a 52-week 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 firm has a market capitalization of $44.01 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 1.27 and a beta of 1.32. The stock has a fifty day moving average of $221.23 and a 200 day moving average of $241.60.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data 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 company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk’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 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. On average, research analysts expect that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ADSK shares. Rothschild & Co Redburn cut their target price on Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Jefferies Financial Group upgraded shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, May 26th. Loop Capital lowered their price objective on Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a research note on Friday, May 29th. KeyCorp dropped their price target on shares of Autodesk from $365.00 to $341.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada cut their price objective on shares of Autodesk from $335.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, May 29th. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $326.10.

Insider Activity

In other news, EVP Janesh Moorjani acquired 2,500 shares of Autodesk stock in a transaction dated Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the transaction, the executive vice president owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average price of $189.20 per share, with a total value of $378,400.00. Following the completion of the acquisition, the director owned 4,000 shares in the company, valued at approximately $756,800. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is currently owned by insiders.

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.