Norges Bank Makes New Investment in Autodesk, Inc. $ADSK

Key Points

• Norges Bank initiated a large new position in Autodesk, buying 2.93 million shares worth about $867.5 million and holding 1.38% of the company. Institutional ownership remains very high, with hedge funds and other investors owning 90.24% of Autodesk shares.
• Autodesk reported a strong quarter, with EPS of $2.99 beating estimates and revenue of $1.93 billion topping forecasts. Revenue rose 18.4% year over year, and the company also raised its fiscal 2027 guidance.
• Analyst sentiment is still broadly positive despite some recent target cuts: the stock carries a Moderate Buy consensus and an average price target of $327.75. Shares were down about 4% and recently traded near $231.31, well below several analysts’ targets.

Norges Bank purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,930,575 shares of the software company's stock, valued at approximately $867,480,000. Norges Bank owned 1.38% of Autodesk as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Torren Management LLC purchased a new position in shares of Autodesk during the 4th quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Autodesk during the 3rd quarter worth $25,000. Archer Investment Corp raised its holdings in shares of Autodesk by 112.2% during the 4th quarter. Archer Investment Corp now owns 87 shares of the software company's stock worth $26,000 after acquiring an additional 46 shares during the period. High Point Wealth Management LLC purchased a new position in shares of Autodesk during the 4th quarter worth $44,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of Autodesk during the 3rd quarter worth $46,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Down 4.0%

Shares of ADSK opened at $231.31 on Friday. The firm has a market cap of $48.84 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32. Autodesk, Inc. has a 12-month low of $214.10 and a 12-month high of $329.09. The company's 50-day moving average price is $238.52 and its 200 day moving average price is $260.41. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.82.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.15. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 58.65%. Autodesk's revenue was up 18.4% on a year-over-year basis. 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 forecast that Autodesk, Inc. will post 9.36 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Autodesk from $319.00 to $336.00 and gave the stock an "overweight" rating in a report on Friday, February 27th. BTIG Research reiterated a "buy" rating and set a $300.00 price target on shares of Autodesk in a report on Friday. Wells Fargo & Company reduced their price target on Autodesk from $350.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday. Bank of America reiterated a "buy" rating and set a $300.00 price target on shares of Autodesk in a report on Tuesday, May 12th. Finally, Piper Sandler reduced their price target on Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Autodesk presently has an average rating of "Moderate Buy" and an average price target of $327.75.

Autodesk News Roundup

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk beat first-quarter estimates, with revenue rising 18% year over year and EPS coming in above consensus, showing continued demand across construction, manufacturing, and AI-driven workflows.
• Positive Sentiment: The company raised fiscal 2027 guidance, which signals management confidence in continued growth and margin expansion.
• Positive Sentiment: DA Davidson reaffirmed its Buy rating and set a $325 price target, implying significant upside from current levels.
• Positive Sentiment: BTIG also reiterated a Buy rating, while Wells Fargo maintained an Overweight view and Piper Sandler kept an Overweight rating, suggesting Street confidence remains intact.
• Neutral Sentiment: Autodesk announced it will present at upcoming investor conferences, which may keep investor attention on the name but is not an immediate catalyst.
• Negative Sentiment: Shares are weaker because investors are worried the MaintainX acquisition could create execution risk, integration challenges, and pressure on margins and financing.
• Negative Sentiment: Some analysts trimmed price targets, including BMO Capital, Loop Capital, Wells Fargo, and Piper Sandler, reflecting a more cautious stance after the deal announcement.

Insider Transactions at Autodesk

In related news, Director Stacy J. Smith acquired 3,435 shares of Autodesk stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the acquisition, the director 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company's stock.

About Autodesk

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.