iA Global Asset Management Inc. raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 8.8% in the second quarter, Holdings Channel.com reports. The fund owned 37,833 shares of the software company’s stock after purchasing an additional 3,058 shares during the period. iA Global Asset Management Inc.’s holdings in Autodesk were worth $7,355,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Moss Adams Wealth Advisors LLC lifted its holdings in shares of Autodesk by 1.0% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 4,267 shares of the software company’s stock worth $1,263,000 after acquiring an additional 41 shares during the last quarter. CENTRAL TRUST Co increased its holdings in Autodesk by 6.2% in the 4th quarter. CENTRAL TRUST Co now owns 759 shares of the software company’s stock valued at $225,000 after purchasing an additional 44 shares during the last quarter. Smithfield Trust Co increased its holdings in Autodesk by 5.3% in the 4th quarter. Smithfield Trust Co now owns 893 shares of the software company’s stock valued at $266,000 after purchasing an additional 45 shares during the last quarter. Calydon Capital raised its position in Autodesk by 1.7% in the fourth quarter. Calydon Capital now owns 2,726 shares of the software company’s stock valued at $807,000 after purchasing an additional 45 shares during the period. Finally, Archer Investment Corp raised its position in Autodesk by 112.2% in the fourth quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after purchasing an additional 46 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ADSK has been the subject of several research analyst reports. BMO Capital Markets lowered their price target on Autodesk from $279.00 to $262.00 and set a “market perform” rating for the company in a research report on Friday, May 29th. Loop Capital cut their price objective on Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Rothschild & Co Redburn decreased their target price on Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Royal Bank Of Canada lowered their target price on Autodesk from $335.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $330.00 target price on shares of Autodesk in a research report on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.07.
Insider Buying and Selling
In other Autodesk news, Director John T. Cahill purchased 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 directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were acquired at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the acquisition, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 7,935 shares of company stock worth $1,666,644. Corporate insiders own 0.14% of the company’s stock.
Autodesk Stock Up 3.4%
Shares of NASDAQ:ADSK opened at $257.96 on Friday. Autodesk, Inc. has a fifty-two week low of $185.50 and a fifty-two week high of $329.09. The firm’s 50 day moving average price is $215.88 and its 200 day moving average price is $232.15. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The stock has a market cap of $54.43 billion, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 1.53 and a beta of 1.29.
Autodesk (NASDAQ:ADSK – Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The firm’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, equities research analysts predict that Autodesk, Inc. will post 9.7 earnings per share for the current fiscal year.
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.
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