Munich Reinsurance Co Stock Corp in Munich Buys 15,346 Shares of Autodesk, Inc. $ADSK

Key Points

• Munich Reinsurance increased its Autodesk stake by 83.8% in Q1, buying 15,346 shares and lifting its position to 33,655 shares worth about $8.1 million.
• Autodesk shares were down 3.0% in Thursday trading, with the stock opening at $206.04 and trading well below its 52-week high of $329.09.
• The company recently beat quarterly expectations, reporting $2.99 EPS and $1.93 billion in revenue, while analysts currently rate the stock a Moderate Buy with a consensus price target of $326.10.

Munich Reinsurance Co Stock Corp in Munich grew its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 83.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,655 shares of the software company's stock after purchasing an additional 15,346 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in Autodesk were worth $8,057,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Torren Management LLC bought a new stake in Autodesk during the fourth quarter valued at $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Autodesk in the 3rd quarter valued at about $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk during the 4th quarter valued at about $25,000. Archer Investment Corp grew its stake in Autodesk by 112.2% during the fourth quarter. Archer Investment Corp now owns 87 shares of the software company's stock worth $26,000 after purchasing an additional 46 shares during the period. Finally, Prosperity Bancshares Inc bought a new stake in Autodesk in the fourth quarter worth approximately $27,000. 90.24% of the stock is owned by institutional investors.

Autodesk Trading Down 3.0%

Shares of Autodesk stock opened at $206.04 on Thursday. The company has a market capitalization of $43.47 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 1.31 and a beta of 1.32. The stock has a fifty day simple moving average of $221.75 and a 200 day simple moving average of $242.24. Autodesk, Inc. has a 12-month low of $185.50 and a 12-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 posted its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm 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. On average, sell-side analysts anticipate that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Rothschild & Co Redburn reduced their price objective on shares of Autodesk from $375.00 to $360.00 and set a "buy" rating for the company in a research report on Monday, June 1st. Rosenblatt Securities restated a "buy" rating and issued a $330.00 price target on shares of Autodesk in a report on Monday, June 1st. Jefferies Financial Group upgraded shares of Autodesk to a "strong-buy" rating in a report on Tuesday, May 26th. Zacks Research downgraded Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Finally, Morgan Stanley dropped their price target on Autodesk from $350.00 to $315.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $326.10.

Insiders Place Their Bets

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the acquisition, the director owned 4,000 shares of the company's stock, valued at $756,800. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stacy J. Smith acquired 3,435 shares of Autodesk stock in a transaction on Friday, May 29th. The stock was acquired at an average price 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 trade represents a 14.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 7,935 shares of company stock valued at $1,666,644 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

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.

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.