Autodesk, Inc. $ADSK Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC raised its position in Autodesk, Inc. (NASDAQ:ADSK) by 41.4% in the first quarter, Holdings Channel reports. The institutional investor owned 41,069 shares of the software company’s stock after purchasing an additional 12,031 shares during the period. NewEdge Advisors LLC’s holdings in Autodesk were worth $9,832,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ADSK. Norges Bank purchased a new position in shares of Autodesk in the 4th quarter valued at about $867,480,000. Northwestern Mutual Wealth Management Co. raised its holdings in Autodesk by 44,345.8% in 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 boosted its position in Autodesk by 46.8% during the fourth 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 in the last quarter. Wellington Management Group LLP boosted its position in Autodesk by 103.5% during the fourth 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 in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings 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. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of Autodesk stock opened at $249.08 on Monday. 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 stock’s 50 day simple moving average is $214.54 and its 200-day simple moving average is $232.40. The stock has a market cap of $52.56 billion, a P/E ratio of 36.31, a P/E/G ratio of 1.53 and a beta of 1.29. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09.

Autodesk (NASDAQ:ADSK) last posted its quarterly 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. 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 analysts’ expectations of $1.89 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The business’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. Analysts predict that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Analyst Ratings Changes

ADSK has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on Autodesk from $350.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Royal Bank Of Canada cut their price target 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. Loop Capital reduced their price objective on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a research report on Friday, May 29th. Zacks Research downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, DA Davidson reiterated a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $323.40.

Insiders Place Their Bets

In related news, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the acquisition, the director directly owned 4,000 shares in the company, valued at approximately $756,800. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stacy J. Smith purchased 3,435 shares of the stock in a transaction dated 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 transaction, the director owned 26,517 shares in the company, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 7,935 shares of company stock valued at $1,666,644 in the last three months. 0.14% of the stock is currently owned by insiders.

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.