NewEdge Advisors LLC Raises Holdings in Autodesk, Inc. $ADSK

Key Points

• NewEdge Advisors increased its Autodesk stake by 41.4% in the first quarter, holding 41,069 shares valued at approximately $9.83 million. Institutional investors collectively own 90.24% of the company.
• Autodesk insiders bought 7,935 shares worth about $1.67 million over the past three months, including purchases by directors Stacy J. Smith and John T. Cahill.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $323.40. Autodesk also exceeded quarterly earnings and revenue expectations, reporting $2.99 in EPS and $1.93 billion in revenue, up 18.4% year over year.

NewEdge Advisors LLC boosted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 41.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,069 shares of the software company's stock after buying an additional 12,031 shares during the period. NewEdge Advisors LLC's holdings in Autodesk were worth $9,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Measured Wealth Private Client Group LLC purchased a new stake in shares of Autodesk during the 3rd quarter worth $25,000. Kemnay Advisory Services Inc. purchased a new position in Autodesk in the fourth quarter valued at about $25,000. Torren Management LLC bought a new position in Autodesk in the fourth quarter worth about $25,000. Archer Investment Corp raised its holdings in Autodesk by 112.2% in 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 in the last quarter. Finally, Prosperity Bancshares Inc purchased a new stake in shares of Autodesk during the fourth quarter valued at about $27,000. Institutional investors own 90.24% of the company's stock.

Insider Activity at Autodesk

In related news, 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, for a total transaction of $794,068.95. Following the purchase, the director owned 26,517 shares of the company's stock, valued at approximately $6,129,934.89. This represents a 14.88% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $189.20 per share, with a total value of $378,400.00. Following the acquisition, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 7,935 shares of company stock worth $1,666,644 over the last three months. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ADSK shares. Citigroup lifted their price objective on shares of Autodesk from $246.00 to $252.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. BNP Paribas Exane began coverage on shares of Autodesk in a research report on Thursday, June 18th. They set an "outperform" rating and a $295.00 target price for the company. Barclays lowered their target price 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. Loop Capital reduced their price target on Autodesk from $250.00 to $235.00 and set a "hold" rating on the stock in a research report on Friday, May 29th. Finally, Robert W. Baird decreased 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. Three 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, Autodesk currently has an average rating of "Moderate Buy" and a consensus target price of $323.40.

Autodesk Stock Performance

Shares of ADSK opened at $249.08 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a 50-day moving average of $214.54 and a two-hundred day moving average of $232.40. The stock has a market cap of $52.56 billion, a P/E ratio of 36.31, a P/E/G ratio of 1.53 and a beta of 1.29. 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 issued its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company earned $2.29 EPS. Autodesk'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. As a group, research analysts predict that Autodesk, Inc. will post 9.64 EPS 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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