D.A. Davidson & CO. Boosts Stake in Autodesk, Inc. $ADSK

Key Points

• D.A. Davidson & Co. increased its Autodesk stake by 7.7% in the first quarter, buying 7,760 more shares and ending with 108,244 shares valued at about $25.9 million.
• Insider buying has been notable, with director John T. Cahill and EVP Janesh Moorjani both purchasing shares recently; insiders bought 7,935 shares over the last 90 days.
• Autodesk’s latest quarterly results beat expectations, with EPS of $2.99 and revenue of $1.93 billion, while analysts still rate the stock a Moderate Buy despite several target-price cuts.

D.A. Davidson & CO. raised its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,244 shares of the software company's stock after purchasing an additional 7,760 shares during the quarter. D.A. Davidson & CO. owned 0.05% of Autodesk worth $25,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ADSK. Vanguard Group Inc. increased its position in Autodesk by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock worth $6,362,192,000 after purchasing an additional 78,928 shares in the last quarter. State Street Corp lifted its position in Autodesk by 0.7% during the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company's stock valued at $3,006,818,000 after buying an additional 70,053 shares in the last quarter. Geode Capital Management LLC grew its stake in Autodesk by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock worth $1,677,404,000 after buying an additional 123,691 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock worth $884,884,000 after acquiring an additional 952,343 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Autodesk in the fourth quarter worth $867,480,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the purchase, the director owned 4,000 shares in the company, valued at $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 hyperlink. Also, EVP Janesh Moorjani purchased 2,500 shares of Autodesk stock in a transaction that occurred on Monday, June 15th. The stock was 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 $10,079,786.31. The trade was a 5.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is currently owned by insiders.

Autodesk Price Performance

Shares of ADSK stock opened at $208.98 on Thursday. The firm has a fifty day simple moving average of $218.63 and a 200-day simple moving average of $239.07. The company has a market capitalization of $44.09 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 1.27 and a beta of 1.32. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.15. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. Equities research analysts anticipate that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADSK has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Autodesk from $350.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Morgan Stanley lowered their price target on Autodesk from $350.00 to $315.00 and set an "overweight" rating for the company in a report on Tuesday, May 26th. Royal Bank Of Canada cut their price objective on Autodesk from $335.00 to $305.00 and set an "outperform" rating on the stock in a research report on Friday, May 29th. Zacks Research cut Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Finally, Arete Research decreased their target price on Autodesk from $460.00 to $456.00 and set a "buy" rating for the company in a research report on Thursday, March 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $326.10.

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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