Abacus FCF Advisors LLC Makes New $5.78 Million Investment in Autodesk, Inc. $ADSK

Abacus FCF Advisors LLC purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,744 shares of the software company's stock, valued at approximately $5,783,000.

A number of other large investors have also recently modified their holdings of ADSK. BlackRock Inc. bought a new position in Autodesk in the second quarter valued at $4,828,855,000. Vanguard Group Inc. lifted its stake in Autodesk by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock worth $6,362,192,000 after purchasing an additional 78,928 shares during the last quarter. State Street Corp boosted its holdings in shares of Autodesk by 0.7% in the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company's stock worth $3,006,818,000 after purchasing an additional 70,053 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Autodesk by 2.2% during the 4th 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Autodesk by 5.2% during the 1st 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. Institutional investors own 90.24% of the company's stock.

Autodesk Trading Up 1.8%

Shares of ADSK stock opened at $251.29 on Thursday. The stock has a market capitalization of $53.02 billion, a PE ratio of 36.63, a P/E/G ratio of 1.51 and a beta of 1.29. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09. The business has a 50-day moving average of $217.70 and a 200 day moving average of $231.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) 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 earned $2.29 EPS. Autodesk's revenue for the quarter was up 18.4% compared to the same quarter last year. 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, sell-side analysts anticipate that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ADSK shares. Weiss Ratings cut Autodesk from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, July 10th. DA Davidson reiterated a "buy" rating and set a $325.00 price target on shares of Autodesk in a research report on Friday, May 29th. BNP Paribas Exane initiated coverage on shares of Autodesk in a research note on Thursday, June 18th. They set an "outperform" rating and a $295.00 price target on the stock. Barclays reissued an "overweight" rating on shares of Autodesk in a research note on Wednesday. Finally, Rothschild & Co Redburn lowered their price objective on shares of Autodesk from $375.00 to $360.00 and set a "buy" rating for the company in a report on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $321.07.

Insider Transactions at Autodesk

In other news, EVP Janesh Moorjani bought 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the purchase, the executive vice president directly 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 purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Stacy J. Smith purchased 3,435 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 7,935 shares of company stock worth $1,666,644. Insiders own 0.14% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source