iA Global Asset Management Inc. Increases Stock Position in Autodesk, Inc. $ADSK

Key Points

• iA Global Asset Management increased its Autodesk stake by 26.2% in the first quarter, adding 7,212 shares to bring its total to 34,775 shares worth about $8.3 million.
• Insider buying was notable, with directors John T. Cahill and Stacy J. Smith purchasing shares recently; insiders bought 7,935 shares total over the past 90 days.
• Autodesk reported strong quarterly results, with EPS of $2.99 beating estimates and revenue rising 18.4% year over year, though analysts have trimmed price targets while keeping a consensus Moderate Buy rating.

iA Global Asset Management Inc. boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 26.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,775 shares of the software company's stock after acquiring an additional 7,212 shares during the quarter. iA Global Asset Management Inc.'s holdings in Autodesk were worth $8,325,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Autodesk by 0.4% in 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 boosted its position in shares of 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of Autodesk by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock valued at $1,677,404,000 after buying an additional 123,691 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Autodesk by 46.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company's stock worth $884,884,000 after buying an additional 952,343 shares in the last quarter. Finally, Norges Bank bought a new stake in Autodesk in the 4th quarter worth about $867,480,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Autodesk news, Director John T. Cahill acquired 2,000 shares of the company's stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $189.20 per share, with a total value of $378,400.00. Following the completion of the purchase, the director directly owned 4,000 shares in the company, valued at approximately $756,800. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 acquired at an average price of $231.17 per share, with a total value of $794,068.95. Following the transaction, the director directly owned 26,517 shares of the company's stock, valued at $6,129,934.89. This represents a 14.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 7,935 shares of company stock worth $1,666,644 over the last ninety days. Corporate insiders own 0.14% of the company's stock.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $199.76 on Thursday. The firm has a fifty day moving average price of $224.89 and a 200-day moving average price of $245.32. 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 stock has a market cap of $42.15 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.20 and a beta of 1.32. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.84 by $0.15. The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk's revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company 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. Equities 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 research analyst reports. BMO Capital Markets lowered their target price on shares of Autodesk from $279.00 to $262.00 and set a "market perform" rating on the stock in a research note on Friday, May 29th. Barclays reduced their price target on shares of Autodesk from $315.00 to $300.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. Piper Sandler decreased their price objective on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating for the company in a report on Friday, May 29th. Loop Capital lowered their price objective on shares of Autodesk from $250.00 to $235.00 and set a "hold" rating on the stock in a research report on Friday, May 29th. Finally, Argus upgraded shares of Autodesk to a "strong-buy" rating in a report on Friday, March 6th. Two research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $326.10.

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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