Canandaigua National Bank & Trust Co. Invests $1.23 Million in Autodesk, Inc. $ADSK

Canandaigua National Bank & Trust Co. purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,301 shares of the software company’s stock, valued at approximately $1,225,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Autodesk in the 4th quarter valued at about $867,480,000. Northwestern Mutual Wealth Management Co. boosted its stake in Autodesk by 44,345.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock worth $675,055,000 after purchasing an additional 2,275,384 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Autodesk by 46.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock worth $884,884,000 after purchasing an additional 952,343 shares during the last quarter. Wellington Management Group LLP grew its position in Autodesk by 103.5% during the 4th quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company’s stock worth $552,994,000 after purchasing an additional 950,149 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Autodesk by 80.2% in the first quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company’s stock valued at $503,521,000 after purchasing an additional 936,388 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ADSK shares. Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Wells Fargo & Company dropped their price objective on shares of Autodesk from $350.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Robert W. Baird cut their price objective on shares of Autodesk from $355.00 to $312.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. BMO Capital Markets lowered their price objective on Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a report on Friday, May 29th. Finally, Guggenheim initiated coverage on Autodesk in a report on Wednesday, July 22nd. They issued a “buy” rating and a $245.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $323.40.

Autodesk Stock Performance

Shares of ADSK stock opened at $240.03 on Thursday. The company’s fifty day moving average price is $214.15 and its two-hundred day moving average price is $232.68. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $329.09. The firm has a market capitalization of $50.65 billion, a P/E ratio of 34.99, a P/E/G ratio of 1.46 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 quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business posted $2.29 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. 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 anticipate that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In related news, Director John T. Cahill bought 2,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the purchase, the director owned 4,000 shares of the company’s stock, valued at $756,800. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Janesh Moorjani acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the acquisition, the executive vice president owned 50,993 shares in the company, valued at approximately $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 7,935 shares of company stock worth $1,666,644 over the last ninety days. Company insiders own 0.14% 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.