Commerce Bank Makes New $3.46 Million Investment in Autodesk, Inc. $ADSK

Key Points

• Commerce Bank acquired 17,817 Autodesk shares worth approximately $3.46 million in the second quarter, while institutional investors collectively own 90.24% of the company.
• Autodesk reported quarterly earnings of $2.99 per share, beating estimates of $2.84, while revenue rose 18.4% year over year to $1.93 billion.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $321.65, compared with the stock’s opening price of $254.42.

Commerce Bank bought a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,817 shares of the software company's stock, valued at approximately $3,464,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADSK. Quantinno Capital Management LP grew its position in Autodesk by 17.8% during the 1st quarter. Quantinno Capital Management LP now owns 385,572 shares of the software company's stock worth $92,306,000 after acquiring an additional 58,285 shares during the last quarter. SG Americas Securities LLC raised its position in Autodesk by 158.4% in the first quarter. SG Americas Securities LLC now owns 272,548 shares of the software company's stock valued at $65,248,000 after purchasing an additional 167,064 shares during the last quarter. Man Group plc raised its position in Autodesk by 28.6% in the fourth quarter. Man Group plc now owns 1,229,946 shares of the software company's stock valued at $364,076,000 after purchasing an additional 273,765 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Autodesk during the second quarter valued at about $322,851,000. Finally, Seilern Investment Management Ltd boosted its stake in shares of Autodesk by 11.0% during the second quarter. Seilern Investment Management Ltd now owns 227,675 shares of the software company's stock valued at $44,265,000 after purchasing an additional 22,547 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Stacy J. Smith acquired 3,435 shares of the stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $231.17 per share, with a total value of $794,068.95. Following the transaction, the director owned 26,517 shares in the company, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Janesh Moorjani acquired 2,500 shares of the company's stock in a transaction dated Monday, June 15th. The stock was acquired 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 directly owned 50,993 shares in the company, valued at $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is currently owned by insiders.

Autodesk Stock Up 0.2%

Autodesk stock opened at $254.42 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. Autodesk, Inc. has a 52-week low of $185.50 and a 52-week high of $329.09. The firm has a 50 day moving average price of $220.83 and a two-hundred day moving average price of $231.70. The firm has a market cap of $53.68 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 1.55 and a beta of 1.29.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $2.29 EPS. The company's quarterly revenue was up 18.4% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Equities analysts predict that Autodesk, Inc. will post 9.7 EPS for the current year.

Analyst Ratings Changes

ADSK has been the subject of several recent research reports. 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 note on Friday, May 29th. UBS Group reissued a "buy" rating on shares of Autodesk in a report on Friday, May 29th. DA Davidson restated a "buy" rating and issued a $325.00 price target on shares of Autodesk in a research report on Friday, May 29th. Jefferies Financial Group raised shares of Autodesk to a "strong-buy" rating in a research note on Tuesday, May 26th. Finally, New Street Research set a $277.00 price target on shares of Autodesk in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $321.65.

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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