Krane Funds Advisors LLC Buys Shares of 5,600 Autodesk, Inc. $ADSK

Key Points

• Krane Funds Advisors opened a new position in Autodesk during the fourth quarter, buying 5,600 shares valued at about $1.66 million.
• Institutional interest in Autodesk remains strong, with hedge funds and other investors making large moves; 90.24% of the stock is owned by institutions.
• Autodesk recently beat earnings expectations, and analysts still rate the stock Moderate Buy overall, with a consensus price target of $327.21.

Krane Funds Advisors LLC bought a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,600 shares of the software company's stock, valued at approximately $1,658,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADSK. Norges Bank bought a new stake in Autodesk in the 4th quarter worth about $867,480,000. Northwestern Mutual Wealth Management Co. lifted its stake in Autodesk by 44,345.8% during the 4th 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 during the period. Wellington Management Group LLP boosted its holdings in shares of Autodesk by 326.9% during the 3rd quarter. Wellington Management Group LLP now owns 918,010 shares of the software company's stock valued at $291,624,000 after acquiring an additional 702,974 shares during the last quarter. First Trust Advisors LP grew its stake 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 worth $289,324,000 after acquiring an additional 604,235 shares during the period. Finally, Two Sigma Investments LP raised its holdings in shares of Autodesk by 51,159.6% during the third quarter. Two Sigma Investments LP now owns 512,596 shares of the software company's stock valued at $162,836,000 after purchasing an additional 511,596 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ADSK has been the subject of a number of research analyst reports. Oppenheimer cut their target price on shares of Autodesk from $375.00 to $325.00 and set an "outperform" rating for the company in a research report on Tuesday, February 24th. Stifel Nicolaus dropped their price target on Autodesk from $375.00 to $285.00 and set a "buy" rating on the stock in a research note on Monday, February 23rd. Robert W. Baird cut their price objective on Autodesk from $355.00 to $312.00 and set an "outperform" rating for the company in a report on Friday, April 17th. BTIG Research reissued a "buy" rating and issued a $300.00 target price on shares of Autodesk in a report on Friday, May 29th. Finally, Loop Capital dropped their target price on Autodesk from $250.00 to $235.00 and set a "hold" rating on the stock in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $327.21.

Insider Buying and Selling at Autodesk

In related news, Director Stacy J. Smith acquired 3,435 shares of the stock in a transaction dated 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 transaction, 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 is accessible through this hyperlink. 0.14% of the stock is currently owned by insiders.

Key Stories Impacting Autodesk

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk signed a strategic collaboration agreement with AWS to bring cloud-based products into AWS Marketplace and improve cloud solutions for customers, which could widen distribution and strengthen enterprise adoption. Autodesk signs strategic collaboration agreement with Amazon Web Services
• Positive Sentiment: Autodesk lowered the minimum buy-in for Autodesk Flex to 33 tokens for $99 from 100 tokens for $300, making it easier and cheaper for small businesses to start using its products and potentially expanding its user base. Autodesk for Small Business update: Making it more affordable to get started with Autodesk Flex

Autodesk Stock Performance

Shares of ADSK stock opened at $229.96 on Monday. 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 company has a market cap of $48.52 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 1.43 and a beta of 1.30. Autodesk, Inc. has a 1 year low of $214.10 and a 1 year high of $329.09. The firm has a fifty day moving average price of $237.72 and a 200-day moving average price of $257.93.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced 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 return on equity of 57.14% and a net margin of 19.49%.The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm earned $2.29 EPS. Autodesk's revenue for the quarter was up 18.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. As a group, equities analysts predict that Autodesk, Inc. will post 9.55 earnings per share for the current year.

Autodesk 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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