California State Teachers Retirement System Purchases 58,287,201 Shares of Autodesk, Inc. $ADSK

Key Points

• California State Teachers Retirement System increased its Autodesk stake by 18,825% in the second quarter, acquiring 58.3 million shares and ending the period with approximately 27.77% ownership valued at $11.4 billion. Institutional investors and hedge funds collectively own 90.24% of Autodesk.
• Autodesk exceeded quarterly expectations, reporting adjusted earnings of $3.30 per share versus a $3.12 estimate and revenue of $2.05 billion, up 16.1% year over year. The company also issued fiscal 2027 earnings guidance of $12.52 to $12.60 per share.
• Shares opened at $212.21, down 2.6%, while analysts maintained a generally positive outlook: 25 rate the stock a Buy or Strong Buy, six recommend Hold, and the consensus price target is $321.19.

California State Teachers Retirement System boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 18,825.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,596,827 shares of the software company's stock after buying an additional 58,287,201 shares during the quarter. California State Teachers Retirement System owned approximately 27.77% of Autodesk worth $11,392,395,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in shares of Autodesk by 14.5% during the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after purchasing an additional 147 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Autodesk by 98.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company's stock valued at $765,000 after buying an additional 1,224 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Autodesk in the 2nd quarter valued at about $466,000. Baird Financial Group Inc. increased its stake in shares of Autodesk by 7.5% in the second quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company's stock valued at $3,111,000 after buying an additional 701 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of 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 buying an additional 2,795 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Autodesk

In other news, Director John Cahill bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $189.20 per share, with a total value of $378,400.00. Following the transaction, the director directly owned 4,000 shares of the company's stock, valued at approximately $756,800. This represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Janesh Moorjani purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the purchase, the executive vice president owned 50,993 shares in the company, valued at $10,079,786.31. This trade represents a 5.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.14% of the company's stock.

Autodesk Trading Down 2.6%

NASDAQ:ADSK opened at $212.21 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $44.35 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.43 and a beta of 1.31. The firm has a fifty day simple moving average of $231.71 and a two-hundred day simple moving average of $232.33. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $326.87.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.18. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $2.62 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Analysts expect that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADSK. DA Davidson set a $325.00 price objective on Autodesk in a research note on Friday, August 28th. Royal Bank Of Canada decreased their price target on Autodesk from $335.00 to $305.00 and set an "outperform" rating for the company in a report on Friday, May 29th. Wells Fargo & Company lowered their price objective on Autodesk from $350.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. Bank of America reissued a "buy" rating and issued a $300.00 price objective on shares of Autodesk in a research note on Tuesday, May 12th. Finally, Morgan Stanley cut their target price on Autodesk from $350.00 to $315.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $321.19.

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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