Cinctive Capital Management LP Acquires Shares of 30,606 Autodesk, Inc. $ADSK

Key Points

• Cinctive Capital Management initiated a new position in Autodesk, buying 30,606 shares valued at about $9.06 million in the fourth quarter.
• Autodesk continues to draw institutional and insider interest, with multiple funds adding shares and directors/executives Stacy J. Smith and Janesh Moorjani recently making stock purchases.
• Analysts remain broadly positive despite some lower price targets: the stock has a Moderate Buy consensus, and Autodesk recently beat quarterly EPS and revenue estimates while reporting 18.4% year-over-year revenue growth.

Cinctive Capital Management LP acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 30,606 shares of the software company's stock, valued at approximately $9,060,000.

Several other institutional investors and hedge funds have also bought and sold shares of ADSK. Brighton Jones LLC lifted its stake in Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after acquiring an additional 147 shares during the period. Sivia Capital Partners LLC lifted its stake in Autodesk by 98.1% during the 2nd 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 during the period. Schnieders Capital Management LLC. acquired a new stake in Autodesk during the 2nd quarter valued at approximately $466,000. Baird Financial Group Inc. lifted its stake in Autodesk by 7.5% during the 2nd quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company's stock valued at $3,111,000 after acquiring an additional 701 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Autodesk by 25.3% during the 2nd quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company's stock valued at $4,291,000 after acquiring an additional 2,795 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Autodesk news, Director Stacy J. Smith bought 3,435 shares of the company's stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director directly owned 26,517 shares of the company's stock, valued at $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Janesh Moorjani bought 2,500 shares of the company's stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $197.67 per share, with a total value of $494,175.00. Following the acquisition, the executive vice president directly owned 50,993 shares of the company's stock, valued at approximately $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Autodesk from $350.00 to $315.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. Stifel Nicolaus decreased their target price on shares of Autodesk from $375.00 to $285.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. Bank of America reiterated a "buy" rating and issued a $300.00 target price on shares of Autodesk in a research note on Tuesday, May 12th. BMO Capital Markets decreased their target price on shares of Autodesk from $279.00 to $262.00 and set a "market perform" rating for the company in a research note on Friday, May 29th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $330.00 target price on shares of Autodesk in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $327.21.

Autodesk Stock Performance

NASDAQ:ADSK opened at $193.07 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average of $233.14 and a two-hundred day moving average of $253.13. The stock has a market capitalization of $40.74 billion, a PE ratio of 28.14, a P/E/G ratio of 1.24 and a beta of 1.29. Autodesk, Inc. has a fifty-two week low of $192.30 and a fifty-two week high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $0.15. The company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm's revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the business 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 fiscal year.

Autodesk 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.

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.