Autodesk, Inc. $ADSK Shares Bought by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC nearly doubled its Autodesk stake in the fourth quarter, increasing holdings by 94.7% to 19,599 shares valued at about $5.8 million.
• Autodesk reported better-than-expected quarterly results, with EPS of $2.99 and revenue of $1.93 billion, while revenue rose 18.4% year over year.
• Insider buying and analyst support remain notable, with two executives purchasing shares recently and Wall Street maintaining a consensus “Moderate Buy” rating despite several lowered price targets.

Magnetar Financial LLC raised its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 94.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,599 shares of the software company's stock after acquiring an additional 9,533 shares during the quarter. Magnetar Financial LLC's holdings in Autodesk were worth $5,802,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ADSK. Catalyst Financial Partners LLC lifted its position in Autodesk by 3.8% during the third quarter. Catalyst Financial Partners LLC now owns 1,023 shares of the software company's stock worth $325,000 after buying an additional 37 shares during the period. Piscataqua Savings Bank lifted its position in Autodesk by 33.3% during the fourth quarter. Piscataqua Savings Bank now owns 160 shares of the software company's stock worth $47,000 after buying an additional 40 shares during the period. Moss Adams Wealth Advisors LLC lifted its position in Autodesk by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 4,267 shares of the software company's stock worth $1,263,000 after buying an additional 41 shares during the period. Trust Point Inc. lifted its position in Autodesk by 3.3% during the fourth quarter. Trust Point Inc. now owns 1,322 shares of the software company's stock worth $391,000 after buying an additional 42 shares during the period. Finally, FourThought Financial Partners LLC lifted its position in Autodesk by 5.0% during the third quarter. FourThought Financial Partners LLC now owns 899 shares of the software company's stock worth $286,000 after buying an additional 43 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $201.38 on Wednesday. The firm has a market capitalization of $42.49 billion, a PE ratio of 29.36, a P/E/G ratio of 1.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50-day moving average of $234.03 and a two-hundred day moving average of $253.90. Autodesk, Inc. has a 12 month low of $194.47 and a 12 month high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced 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. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The firm's revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 earnings per share. 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, research analysts forecast that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Insider Activity

In other news, Director Stacy J. Smith purchased 3,435 shares of the company's stock in a transaction on Friday, May 29th. The stock was bought at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the purchase, the director directly owned 26,517 shares of the company's stock, valued at $6,129,934.89. The trade was a 14.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Janesh Moorjani purchased 2,500 shares of the company's stock in a transaction on Monday, June 15th. The shares were purchased at an average price 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 of the company's stock, valued at $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ADSK. Royal Bank Of Canada reduced their target price on Autodesk from $335.00 to $305.00 and set an "outperform" rating on the stock in a research report on Friday, May 29th. Barclays reduced their target price on Autodesk from $315.00 to $300.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Stifel Nicolaus reduced their target price on Autodesk from $375.00 to $285.00 and set a "buy" rating on the stock in a research report on Monday, February 23rd. Jefferies Financial Group upgraded Autodesk to a "strong-buy" rating in a research report on Tuesday, May 26th. Finally, Rothschild & Co Redburn reduced their target price on Autodesk from $375.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $327.21.

Trending Headlines about Autodesk

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: EVP Janesh Moorjani bought 2,500 shares of Autodesk at an average price of $197.67, a signal of insider confidence in the company’s outlook. Article Title
• Positive Sentiment: Autodesk entered into a new credit agreement to enhance liquidity, which may reassure investors about financial flexibility. Article Title
• Positive Sentiment: Several trading articles highlighted Autodesk as oversold and potentially near a bottom, suggesting some traders are betting on a rebound. Article Title
• Neutral Sentiment: Analyst sentiment remains constructive overall, with Autodesk carrying a “Moderate Buy” consensus and a high average price target, though several firms recently trimmed targets. Article Title
• Negative Sentiment: Unusually heavy put options activity and reports that the stock is near recent lows indicate some investors are still hedging for more downside. Article Title

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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