Autodesk, Inc. $ADSK Shares Acquired by Gibbs Wealth Management

Key Points

• Gibbs Wealth Management significantly increased its Autodesk stake by 271.8% in the first quarter, bringing its holdings to 7,276 shares worth about $1.74 million.
• Autodesk reported better-than-expected quarterly results, posting $2.99 EPS versus the $2.84 estimate and revenue of $1.93 billion, up 18.4% year over year.
• Several insiders bought shares recently, while analysts remain generally upbeat: Autodesk has a Moderate Buy consensus rating with an average price target of $323.40.

Gibbs Wealth Management increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 271.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,276 shares of the software company's stock after buying an additional 5,319 shares during the quarter. Gibbs Wealth Management's holdings in Autodesk were worth $1,742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after buying an additional 147 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Autodesk by 98.1% in the second quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company's stock valued at $765,000 after acquiring an additional 1,224 shares in the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Autodesk in the second quarter valued at about $466,000. Baird Financial Group Inc. increased its stake in shares of Autodesk by 7.5% during the second quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company's stock worth $3,111,000 after acquiring an additional 701 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Autodesk by 25.3% in the second quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company's stock valued at $4,291,000 after purchasing an additional 2,795 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Up 0.9%

Shares of ADSK opened at $205.26 on Friday. 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, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09. The stock has a market cap of $43.31 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.25 and a beta of 1.32. The firm has a 50 day simple moving average of $215.47 and a 200-day simple moving average of $235.50.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. Autodesk'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. Equities analysts forecast that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Insider Transactions at Autodesk

In other news, Director John T. Cahill acquired 2,000 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average price of $189.20 per share, with a total value of $378,400.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at approximately $756,800. This represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Janesh Moorjani bought 2,500 shares of the stock in a transaction on Monday, June 15th. The stock was purchased 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 trade represents a 5.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 7,935 shares of company stock worth $1,666,644 over the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ADSK. Weiss Ratings lowered Autodesk from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, July 10th. BTIG Research restated a "buy" rating and set a $300.00 target price on shares of Autodesk in a research report on Friday, May 29th. Morgan Stanley cut their price target on shares of Autodesk from $350.00 to $315.00 and set an "overweight" rating for the company in a report on Tuesday, May 26th. Wells Fargo & Company decreased their price objective on shares of Autodesk from $350.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Finally, Loop Capital lowered their target price on shares of Autodesk from $250.00 to $235.00 and set a "hold" rating on the stock 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 an average rating of "Moderate Buy" and an average price target of $323.40.

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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