Formuepleje A S Has $2.39 Million Stake in Autodesk, Inc. $ADSK

Key Points

• Formuepleje A S increased its Autodesk stake by 160.3% in the second quarter, bringing its holdings to 12,293 shares valued at approximately $2.39 million. Institutional investors and hedge funds collectively own 90.24% of Autodesk.
• Autodesk exceeded quarterly expectations, reporting $3.30 in EPS versus the $3.12 consensus and $2.05 billion in revenue, up 16.1% year over year. The company also posted a 21.08% net margin and raised its fiscal guidance.
• Wall Street maintains a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $321.19. Recent insider purchases by an executive and a director also indicated increased personal holdings.

Formuepleje A S raised its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 160.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,293 shares of the software company's stock after buying an additional 7,571 shares during the quarter. Formuepleje A S's holdings in Autodesk were worth $2,390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new position in shares of Autodesk in the third quarter worth about $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk during the 4th quarter valued at approximately $25,000. Prosperity Bancshares Inc bought a new stake in shares of Autodesk during the 4th quarter valued at approximately $27,000. Ascentis Independent Advisors acquired a new position in Autodesk during the 1st quarter worth approximately $28,000. Finally, Johnson Financial Group Inc. bought a new position in Autodesk in the 2nd quarter valued at approximately $30,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Performance

NASDAQ ADSK opened at $217.90 on Monday. The stock has a market capitalization of $45.54 billion, a P/E ratio of 28.19, a P/E/G ratio of 1.43 and a beta of 1.31. The business has a 50 day simple moving average of $230.90 and a 200 day simple moving average of $232.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.86 and a quick ratio of 0.86. Autodesk, Inc. has a one year low of $185.50 and a one year high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.12 by $0.18. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter in the prior year, the firm earned $2.62 EPS. The business's revenue was up 16.1% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Research analysts expect that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In related news, EVP Janesh Moorjani purchased 2,500 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average cost of $197.67 per share, with a total value of $494,175.00. Following the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average cost 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 in the company, valued at approximately $756,800. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ADSK. Citigroup increased their price target on Autodesk from $269.00 to $276.00 and gave the company a "neutral" rating in a research note on Monday, August 31st. The Goldman Sachs Group started coverage on Autodesk in a report on Tuesday, August 11th. They issued a "neutral" rating and a $260.00 target price for the company. Rosenblatt Securities reiterated a "buy" rating and issued a $330.00 target price on shares of Autodesk in a research report on Monday, August 31st. BNP Paribas Exane lifted their price target on Autodesk from $295.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Finally, Piper Sandler reduced their price target on Autodesk from $369.00 to $338.00 and set an "overweight" rating on the stock in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $321.19.

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.

Want to see what other hedge funds are holding ADSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autodesk, Inc. (NASDAQ:ADSK - Free Report).

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.