Grandfield & Dodd LLC Buys New Holdings in Autodesk, Inc. $ADSK

Key Points

• Grandfield & Dodd LLC initiated a $28.6 million position in Autodesk during the second quarter, acquiring 147,312 shares. Institutional investors collectively own 90.24% of the company.
• Autodesk reported quarterly revenue of $1.93 billion and adjusted earnings of $2.99 per share, exceeding analyst estimates, while revenue increased 18.4% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $321.07 price target, although some firms recently lowered their targets. Autodesk shares opened at $241.64, down 4.0%.

Grandfield & Dodd LLC purchased a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 147,312 shares of the software company's stock, valued at approximately $28,640,000. Autodesk accounts for approximately 1.5% of Grandfield & Dodd LLC's holdings, making the stock its 19th biggest position. Grandfield & Dodd LLC owned about 0.07% of Autodesk at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ADSK. Brighton Jones LLC boosted its holdings in shares of Autodesk by 14.5% in 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 last quarter. Sivia Capital Partners LLC increased its stake in shares of Autodesk by 98.1% in the second quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company's stock worth $765,000 after acquiring an additional 1,224 shares during the period. Schnieders Capital Management LLC. purchased a new position in shares of Autodesk during the second quarter worth $466,000. Baird Financial Group Inc. raised its holdings in shares of Autodesk by 7.5% during the second quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company's stock worth $3,111,000 after purchasing an additional 701 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Autodesk by 25.3% during the second quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company's stock valued at $4,291,000 after purchasing an additional 2,795 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Autodesk news, Director Stacy J. Smith bought 3,435 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, with a total value of $794,068.95. Following the purchase, the director directly owned 26,517 shares in the company, valued at approximately $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of Autodesk stock in a transaction dated Tuesday, June 23rd. The stock was bought 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 of the company's stock, valued at approximately $756,800. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 7,935 shares of company stock worth $1,666,644. Insiders own 0.14% of the company's stock.

Autodesk Trading Down 4.0%

Shares of NASDAQ:ADSK opened at $241.64 on Tuesday. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $329.09. The firm has a market capitalization of $50.99 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. The business's 50 day moving average price is $216.64 and its 200-day moving average price is $231.81.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping 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 business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the company earned $2.29 earnings per share. 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. On average, equities research analysts forecast that Autodesk, Inc. will post 9.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Loop Capital lowered their price target on shares of Autodesk from $250.00 to $235.00 and set a "hold" rating on the stock in a report on Friday, May 29th. Zacks Research lowered Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. UBS Group restated a "buy" rating on shares of Autodesk in a research note on Friday, May 29th. Wells Fargo & Company dropped their target price on Autodesk from $350.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Finally, BNP Paribas Exane started coverage on Autodesk in a research report on Thursday, June 18th. They set an "outperform" rating and a $295.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $321.07.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source