Praxis Investment Management Inc. Purchases 5,771 Shares of Autodesk, Inc. $ADSK

Key Points

• Praxis Investment Management increased its Autodesk stake by 168.7% in Q1, buying 5,771 additional shares and bringing its total holding to 9,191 shares worth about $2.2 million.
• Autodesk reported stronger-than-expected quarterly results, with EPS of $2.99 versus estimates of $2.84 and revenue of $1.93 billion versus $1.89 billion expected; revenue rose 18.4% year over year.
• Analysts remain largely positive on Autodesk despite some lower price targets, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $326.10.

Praxis Investment Management Inc. lifted its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 168.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,191 shares of the software company's stock after buying an additional 5,771 shares during the period. Praxis Investment Management Inc.'s holdings in Autodesk were worth $2,200,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management grew its stake in shares of Autodesk by 246.4% during the fourth quarter. OFI Invest Asset Management now owns 52,649 shares of the software company's stock worth $15,585,000 after acquiring an additional 37,449 shares during the last quarter. Man Group plc raised its position in shares of Autodesk by 28.6% in the 4th quarter. Man Group plc now owns 1,229,946 shares of the software company's stock valued at $364,076,000 after purchasing an additional 273,765 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Autodesk by 158.4% in the 1st quarter. SG Americas Securities LLC now owns 272,548 shares of the software company's stock valued at $65,248,000 after purchasing an additional 167,064 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Autodesk by 46.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 532,504 shares of the software company's stock worth $157,627,000 after purchasing an additional 169,099 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Autodesk by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 946,476 shares of the software company's stock worth $280,166,000 after purchasing an additional 4,845 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Price Performance

ADSK stock opened at $207.48 on Friday. The firm's fifty day simple moving average is $223.32 and its 200-day simple moving average is $244.42. The company has a market capitalization of $43.78 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share 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 analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.29 earnings per share. 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 research analysts forecast that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In related news, Director Stacy J. Smith purchased 3,435 shares of Autodesk stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the transaction, the director owned 26,517 shares in the company, valued at $6,129,934.89. The trade was 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 link. Also, Director John T. Cahill purchased 2,000 shares of the firm's stock in a transaction on 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 completion of the acquisition, the director directly owned 4,000 shares of the company's stock, valued at $756,800. This trade represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 7,935 shares of company stock worth $1,666,644. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group restated a "buy" rating on shares of Autodesk in a research note on Friday, May 29th. Royal Bank Of Canada dropped their price objective on shares of Autodesk from $335.00 to $305.00 and set an "outperform" rating on the stock in a report on Friday, May 29th. Wells Fargo & Company cut their target price on Autodesk from $350.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Piper Sandler reduced their target price on Autodesk from $383.00 to $369.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Finally, BMO Capital Markets lowered their price target on Autodesk from $279.00 to $262.00 and set a "market perform" rating for the company in a research report on Friday, May 29th. Two investment 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $326.10.

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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