Canada Pension Plan Investment Board Makes New Investment in Autodesk, Inc. $ADSK

Canada Pension Plan Investment Board bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 469,006 shares of the software company’s stock, valued at approximately $91,184,000. Canada Pension Plan Investment Board owned about 0.22% of Autodesk as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Autodesk in the 2nd quarter valued at about $4,828,855,000. State Street Corp lifted its holdings in shares of Autodesk by 0.7% in the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock valued at $3,006,818,000 after purchasing an additional 70,053 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Autodesk by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock valued at $1,677,404,000 after purchasing an additional 123,691 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Autodesk by 5.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock valued at $752,824,000 after purchasing an additional 155,255 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Autodesk during the 4th quarter worth approximately $867,480,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Activity

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average cost of $189.20 per share, with a total value of $378,400.00. Following the purchase, the director owned 4,000 shares in the company, valued at approximately $756,800. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $197.67 per share, with a total value of $494,175.00. Following the acquisition, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 7,935 shares of company stock valued at $1,666,644 over the last quarter. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Up 1.4%

Shares of NASDAQ ADSK opened at $254.77 on Thursday. The firm has a market cap of $53.76 billion, a P/E ratio of 37.14, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $329.09. The firm’s 50 day moving average price is $223.06 and its 200 day moving average price is $231.87.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share 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 company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $2.29 EPS. Autodesk’s revenue was up 18.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Wall Street Analyst Weigh In

ADSK has been the subject of several research reports. Bank of America restated a “buy” rating and set a $300.00 price objective on shares of Autodesk in a research report on Tuesday, May 12th. New Street Research set a $277.00 price target on Autodesk in a research report on Thursday, August 20th. KeyCorp reissued an “overweight” rating on shares of Autodesk in a report on Wednesday, August 19th. Rothschild & Co Redburn reduced their price objective on Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Finally, DA Davidson reaffirmed a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $321.65.

Autodesk 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.