Cibc World Market Inc. Acquires 31,285 Shares of Autodesk, Inc. $ADSK

Key Points

• Cibc World Market Inc. increased its Autodesk stake by 121.9% in the fourth quarter, buying 31,285 additional shares and bringing its total to 56,949 shares valued at about $16.9 million.
• Insider buying also stood out, with Director Stacy J. Smith purchasing 3,435 shares for roughly $794,069, a 14.88% increase in his ownership.
• Autodesk reported strong quarterly results, beating earnings and revenue estimates, while recent news included an AWS collaboration and a lower-cost Autodesk Flex option that could help expand adoption.

Cibc World Market Inc. raised its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 121.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,949 shares of the software company's stock after acquiring an additional 31,285 shares during the quarter. Cibc World Market Inc.'s holdings in Autodesk were worth $16,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of ADSK. Measured Wealth Private Client Group LLC bought a new position in Autodesk in the 3rd quarter valued at $25,000. Torren Management LLC bought a new position in Autodesk in the 4th quarter valued at $25,000. Archer Investment Corp grew its position in Autodesk by 112.2% in the 4th quarter. Archer Investment Corp now owns 87 shares of the software company's stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. High Point Wealth Management LLC bought a new position in Autodesk in the 4th quarter valued at $44,000. Finally, iSAM Funds UK Ltd bought a new position in Autodesk in the 3rd quarter valued at $46,000. Institutional investors own 90.24% of the company's stock.

Insiders Place Their Bets

In related news, Director Stacy J. Smith acquired 3,435 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the transaction, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.

Key Headlines Impacting Autodesk

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk signed a strategic collaboration agreement with AWS to bring cloud-based products into AWS Marketplace and improve cloud solutions for customers, which could widen distribution and strengthen enterprise adoption. Autodesk signs strategic collaboration agreement with Amazon Web Services
• Positive Sentiment: Autodesk lowered the minimum buy-in for Autodesk Flex to 33 tokens for $99 from 100 tokens for $300, making it easier and cheaper for small businesses to start using its products and potentially expanding its user base. Autodesk for Small Business update: Making it more affordable to get started with Autodesk Flex

Wall Street Analyst Weigh In

ADSK has been the topic of several research analyst reports. BMO Capital Markets cut their price objective on Autodesk from $279.00 to $262.00 and set a "market perform" rating on the stock in a research report on Friday, May 29th. Barclays dropped their price target on Autodesk from $315.00 to $300.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Jefferies Financial Group raised Autodesk to a "strong-buy" rating in a research report on Tuesday, May 26th. Piper Sandler dropped their price target on Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Finally, Wolfe Research increased their price target on Autodesk from $330.00 to $350.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $327.21.

Autodesk Price Performance

Shares of ADSK stock opened at $229.96 on Friday. Autodesk, Inc. has a 1-year low of $214.10 and a 1-year high of $329.09. The stock's 50-day moving average is $237.72 and its 200 day moving average is $258.17. The company has a market cap of $48.52 billion, a P/E ratio of 33.52, a PEG ratio of 1.48 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 0.85.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share 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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $2.29 earnings per share. The firm'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. Research analysts predict that Autodesk, Inc. will post 9.35 earnings per share for the current fiscal year.

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.

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.