Axxcess Wealth Management LLC Invests $1.88 Million in Autodesk, Inc. $ADSK

Key Points

• Axxcess Wealth Management acquired 9,668 Autodesk shares worth approximately $1.88 million, while institutional investors collectively own 90.24% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $321.07; recent targets range from $262 to $341.
• Autodesk exceeded quarterly expectations with $2.99 in EPS and $1.93 billion in revenue, up 18.4% year over year. Directors also purchased shares totaling approximately $1.17 million during the quarter.

Axxcess Wealth Management LLC acquired a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 9,668 shares of the software company's stock, valued at approximately $1,880,000.

Several other large investors also recently added to or reduced their stakes in ADSK. Torren Management LLC purchased a new position in Autodesk during the fourth quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Autodesk in the third quarter valued at approximately $25,000. Kemnay Advisory Services Inc. bought a new stake in Autodesk during the fourth quarter valued at approximately $25,000. Archer Investment Corp lifted its position in Autodesk by 112.2% during 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 last quarter. Finally, Prosperity Bancshares Inc purchased a new position in Autodesk in the 4th quarter worth approximately $27,000. Institutional investors own 90.24% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ADSK shares. KeyCorp decreased their price target on shares of Autodesk from $365.00 to $341.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. BMO Capital Markets dropped their price objective on shares of Autodesk from $279.00 to $262.00 and set a "market perform" rating for the company in a report on Friday, May 29th. DA Davidson reissued a "buy" rating and issued a $325.00 target price on shares of Autodesk in a research note on Friday, May 29th. Robert W. Baird cut their target price on Autodesk from $355.00 to $312.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Finally, BNP Paribas Exane began coverage on shares of Autodesk in a report on Thursday, June 18th. They issued an "outperform" rating and a $295.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $321.07.

Autodesk Trading Up 3.4%

NASDAQ:ADSK opened at $257.96 on Friday. The firm has a market capitalization of $54.43 billion, a P/E ratio of 37.60, a P/E/G ratio of 1.53 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. The company has a fifty day moving average of $215.88 and a 200 day moving average of $232.15. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.15. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The company's revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. 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, research analysts predict that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Insider Activity at Autodesk

In related news, Director Stacy J. Smith acquired 3,435 shares of the firm's stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the acquisition, the director owned 26,517 shares of the company's stock, valued at $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the acquisition, the director directly owned 4,000 shares in the company, valued at approximately $756,800. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 7,935 shares of company stock worth $1,666,644 over the last quarter. Corporate 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.

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