Corient Private Wealth LLC Acquires 11,723 Shares of Autodesk, Inc. $ADSK

Key Points

• Corient Private Wealth LLC increased its Autodesk stake by 25.4% in the fourth quarter, buying 11,723 additional shares and lifting its total holdings to 57,952 shares worth about $17.2 million.
• Autodesk continues to see heavy institutional investor interest, with several large funds adding positions; overall, about 90.24% of the stock is owned by institutions.
• The company recently topped earnings expectations, reporting $2.99 EPS on $1.93 billion in revenue, while analysts currently rate the stock a Moderate Buy with a consensus price target of $326.10.

Corient Private Wealth LLC grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 25.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,952 shares of the software company's stock after purchasing an additional 11,723 shares during the quarter. Corient Private Wealth LLC's holdings in Autodesk were worth $17,165,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ADSK. Norges Bank bought a new position in Autodesk in the 4th quarter worth about $867,480,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Autodesk by 44,345.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company's stock valued at $675,055,000 after acquiring an additional 2,275,384 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Autodesk by 46.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock valued at $884,884,000 after acquiring an additional 952,343 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Autodesk by 103.5% in the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company's stock valued at $552,994,000 after purchasing an additional 950,149 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Autodesk by 197.1% in the third quarter. First Trust Advisors LP now owns 910,768 shares of the software company's stock valued at $289,324,000 after purchasing an additional 604,235 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ADSK shares. Wolfe Research raised their price objective on Autodesk from $330.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. Citigroup upped their target price on Autodesk from $246.00 to $252.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Wells Fargo & Company dropped their price target on Autodesk from $350.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Barclays cut their price target on Autodesk from $315.00 to $300.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Finally, Zacks Research lowered shares of Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $326.10.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $188.78 on Wednesday. The firm has a 50 day moving average of $230.04 and a 200 day moving average of $249.88. 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 market capitalization of $39.83 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. 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 earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.15. The business had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The business's revenue for the quarter 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, sell-side analysts predict that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $189.20 per share, with a total value of $378,400.00. Following the completion of the transaction, the director directly owned 4,000 shares of the company's stock, valued at approximately $756,800. The trade was a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Janesh Moorjani bought 2,500 shares of the stock in a transaction on Monday, June 15th. The stock was purchased at an average price of $197.67 per share, with a total value of $494,175.00. Following the completion of the purchase, the executive vice president owned 50,993 shares of the company's stock, valued at $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. Over the last ninety days, insiders bought 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is owned by corporate insiders.

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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