Stephens Inc. Reduces Autodesk Holdings, Other Investors Adjust Positions

Stephens Inc. AR has reduced its stake in Autodesk, Inc. (NASDAQ: ADSK) by 3.7% during the second quarter of 2023. The firm now owns 9,975 shares of the software company, following the sale of 381 shares. At the end of this reporting period, Stephens Inc.’s holdings in Autodesk were valued at approximately $3.1 million.

Other institutional investors have also made adjustments to their positions in Autodesk. Beacon Financial Group increased its stake by 3.0%, acquiring an additional 33 shares and bringing its total to 1,130 shares worth $350,000. Similarly, Freedom Investment Management Inc. grew its holdings by 2.4% during the first quarter, now owning 1,473 shares valued at $386,000 after buying 34 more shares.

Financial Network Wealth Advisors LLC made a significant increase of 34.9% in the first quarter, owning 143 shares valued at $37,000 after adding 37 shares. Oregon Pacific Wealth Management LLC also raised its position by 4.0%, owning 999 shares worth $262,000 after acquiring 38 shares. E Fund Management Hong Kong Co. Ltd. notably boosted its holdings by 67.8% during the second quarter, now holding 99 shares valued at $31,000.

A significant majority of Autodesk’s stock, approximately 90.24%, is owned by institutional investors.

Analysts’ Ratings and Performance Updates

Recent research reports have offered varied analyses of Autodesk’s stock. Loop Capital initiated coverage on July 21, 2023, issuing a “hold” rating with a price target of $320.00. Conversely, HSBC Global Research upgraded Autodesk from “hold” to “strong-buy” on October 1, 2023. Meanwhile, UBS Group raised its price target from $370.00 to $385.00, maintaining a “buy” rating, while KeyCorp increased its target from $350.00 to $365.00 with an “overweight” rating. In contrast, Wall Street Zen downgraded Autodesk from a “strong-buy” to a “buy” rating on September 28, 2023.

Overall, one analyst rates the stock as a “strong buy,” while eighteen have given it a “buy” rating and six a “hold” rating. According to data from MarketBeat.com, Autodesk currently holds a consensus rating of “Moderate Buy” with a target price of $359.13.

Current Trading and Financial Performance

As of the latest trading session on Thursday, Autodesk (NASDAQ: ADSK) opened at $308.15. Over the past year, the stock has seen a low of $232.67 and a high of $329.09. The company’s 50-day moving average stands at $310.33, while the 200-day moving average is $296.60.

Autodesk has a market capitalization of $65.64 billion and reported earnings of $1.46 per share for the last quarter, falling short of the consensus estimate of $2.45 by $0.99. The company generated revenues of $1.76 billion, exceeding analyst expectations of $1.72 billion. Autodesk’s net margin was 15.75% with a return on equity of 51.23%, and quarterly revenue increased by 17.1% compared to the same period last year.

Looking ahead, Autodesk has set its fiscal year 2026 guidance at earnings per share between $9.800 and $9.980, with third quarter guidance of $2.480 to $2.510 EPS. Analysts anticipate the company will post $5.76 earnings per share for the current year.

In insider trading news, Executive Vice President Steven M. Blum sold 22,420 shares on September 5, 2023, at an average price of $323.75, totaling approximately $7.26 million. This transaction reduced his ownership by 63.12%. Another executive, EVP Rebecca Pearce, sold 6,129 shares on August 29, 2023, for about $1.98 million, decreasing her stake by 31.53%. Over the last three months, insiders have sold a total of 35,386 shares worth about $11.43 million, with insiders holding 0.15% of the stock.

Autodesk, Inc. specializes in providing 3D design, engineering, and entertainment technology solutions globally. Its product offerings include software for civil engineering, architecture, and manufacturing, among others, catering to various industries.

For those interested in tracking Autodesk and other related companies, further information is available through investment platforms and financial news sources.