Ieq Capital LLC Invests $4.49 Million in Autodesk, Inc. $ADSK

Ieq Capital LLC purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,075 shares of the software company’s stock, valued at approximately $4,486,000.

Several other hedge funds have also added to or reduced their stakes in ADSK. Torren Management LLC bought a new stake in Autodesk during the 4th quarter worth about $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Autodesk in the 3rd quarter valued at about $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Autodesk during the 4th quarter worth approximately $25,000. Archer Investment Corp grew its position in shares of Autodesk by 112.2% during the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock worth $26,000 after buying an additional 46 shares during the period. Finally, Prosperity Bancshares Inc bought a new stake in shares of Autodesk during the fourth quarter worth approximately $27,000. Institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling

In other news, EVP Janesh Moorjani bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $197.67 per share, with a total value of $494,175.00. Following the transaction, the executive vice president owned 50,993 shares in the company, valued at $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stacy J. Smith bought 3,435 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was 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 $6,129,934.89. The trade was a 14.88% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADSK. Robert W. Baird increased their price objective on shares of Autodesk from $312.00 to $325.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group raised shares of Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Royal Bank Of Canada dropped their target price on shares of Autodesk from $335.00 to $305.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Citigroup increased their price target on Autodesk from $252.00 to $269.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, UBS Group restated a “buy” rating on shares of Autodesk in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $321.65.

Autodesk Trading Down 0.0%

ADSK opened at $253.82 on Monday. The stock has a market capitalization of $53.56 billion, a P/E ratio of 37.00, a P/E/G ratio of 1.55 and a beta of 1.29. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $329.09. The firm’s fifty day simple moving average is $219.71 and its 200 day simple moving average is $231.61.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the company earned $2.29 EPS. The company’s revenue 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. As a group, research analysts anticipate that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

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.