4,025 Shares in Autodesk, Inc. $ADSK Bought by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners initiated a position in Autodesk by purchasing 4,025 shares valued at approximately $783,000. Institutional investors collectively own 90.24% of Autodesk’s stock.
• Autodesk reported quarterly revenue of $1.93 billion and earnings of $2.99 per share, exceeding analyst estimates, while revenue increased 18.4% year over year.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $321.65, despite several firms recently lowering their targets.

Elevation Point Wealth Partners LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,025 shares of the software company's stock, valued at approximately $783,000.

Several other hedge funds and other institutional investors 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. Norges Bank acquired a new position in Autodesk during the fourth quarter worth about $867,480,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Autodesk by 44,345.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company's stock valued at $675,055,000 after purchasing an additional 2,275,384 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Autodesk in the second quarter valued at approximately $322,851,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Autodesk in the second quarter valued at approximately $228,908,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Up 0.2%

Shares of NASDAQ ADSK opened at $254.42 on Tuesday. Autodesk, Inc. has a 52-week low of $185.50 and a 52-week high of $329.09. The firm has a fifty day moving average of $220.83 and a 200-day moving average of $231.70. The stock has a market capitalization of $53.68 billion, a PE ratio of 37.09, a P/E/G ratio of 1.55 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share 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 business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company posted $2.29 EPS. The business's quarterly 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. On average, analysts anticipate that Autodesk, Inc. will post 9.7 EPS for the current year.

Insider Activity

In other news, Director Stacy J. Smith acquired 3,435 shares of Autodesk stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $231.17 per share, with a total value of $794,068.95. Following the purchase, the director directly owned 26,517 shares of the company's stock, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 cost 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 approximately $10,079,786.31. This represents a 5.16% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 7,935 shares of company stock valued at $1,666,644 in the last three months. Corporate insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADSK. Royal Bank Of Canada lowered their target price on Autodesk from $335.00 to $305.00 and set an "outperform" rating on the stock in a report on Friday, May 29th. New Street Research set a $277.00 price target on shares of Autodesk in a research note on Thursday. BNP Paribas Exane initiated coverage on shares of Autodesk in a research report on Thursday, June 18th. They issued an "outperform" rating and a $295.00 price objective for the company. Loop Capital reduced their price target on Autodesk from $250.00 to $235.00 and set a "hold" rating on the stock in a research note on Friday, May 29th. Finally, Rothschild & Co Redburn lowered their price objective on Autodesk from $375.00 to $360.00 and set a "buy" rating for the company in a research report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and an average target price of $321.65.

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.

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