Autodesk (NASDAQ:ADSK) Shares Gap Up – Should You Buy?

Autodesk, Inc. (NASDAQ:ADSK)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $207.54, but opened at $215.99. Autodesk shares last traded at $213.6880, with a volume of 300,833 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ADSK shares. Loop Capital decreased their price objective on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Royal Bank Of Canada lowered their price target on shares of Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Arete Research cut their price objective on shares of Autodesk from $460.00 to $456.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. DA Davidson restated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a report on Friday, May 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $330.00 target price on shares of Autodesk in a research note on Monday, June 1st. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.10.

Autodesk Trading Up 3.2%

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 business’s 50-day moving average is $223.32 and its 200 day moving average is $244.07. The firm has a market capitalization of $45.19 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32.

Autodesk (NASDAQ:ADSK) last released its 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 return on equity of 57.14% and a net margin of 19.49%.The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company posted $2.29 EPS. The company’s 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, analysts anticipate that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $189.20 per share, with a total value of $378,400.00. Following the completion of the purchase, the director owned 4,000 shares of the company’s stock, valued at approximately $756,800. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the acquisition, 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 position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 7,935 shares of company stock valued at $1,666,644 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Autodesk

Several hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management boosted its holdings in Autodesk by 246.4% during the 4th quarter. OFI Invest Asset Management now owns 52,649 shares of the software company’s stock worth $15,585,000 after acquiring an additional 37,449 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Autodesk by 158.4% in the first quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock valued at $65,248,000 after purchasing an additional 167,064 shares during the last quarter. Man Group plc lifted its position in shares of Autodesk by 28.6% during the fourth quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock valued at $364,076,000 after purchasing an additional 273,765 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in 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 position in Autodesk by 0.5% in the 4th 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 in the last quarter. Institutional investors own 90.24% of the company’s stock.

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.