Renaissance Technologies LLC Has $68.39 Million Position in Autodesk, Inc. $ADSK

Key Points

• Renaissance Technologies increased its Autodesk stake by 591.3% in the first quarter, acquiring 244,360 additional shares for a total position worth approximately $68.4 million. Institutional investors collectively own 90.24% of the company.
• Autodesk reported quarterly results above expectations, with EPS of $2.99 versus a $2.84 estimate and revenue of $1.93 billion, up 18.4% year over year. The company issued fiscal 2027 EPS guidance of $12.40–$12.65.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $323.40 price target, despite several firms recently lowering their targets. Autodesk shares opened at $209.75, near the lower end of their 12-month range.

Renaissance Technologies LLC lifted its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 591.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 285,688 shares of the software company's stock after acquiring an additional 244,360 shares during the quarter. Renaissance Technologies LLC owned approximately 0.14% of Autodesk worth $68,394,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Autodesk

In related news, Director Stacy J. Smith bought 3,435 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the purchase, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, 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 price of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at approximately $756,800. The trade was a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 7,935 shares of company stock worth $1,666,644 in the last ninety days. 0.14% of the stock is currently owned by insiders.

Autodesk Price Performance

NASDAQ ADSK opened at $209.75 on Monday. The stock has a 50-day simple moving average of $214.93 and a 200 day simple moving average of $234.95. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09. The stock has a market capitalization of $44.26 billion, a PE ratio of 30.58, a P/E/G ratio of 1.29 and a beta of 1.32. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.89 billion. During the same period in the previous year, the business posted $2.29 EPS. The company's revenue for the quarter 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. Research analysts anticipate that Autodesk, Inc. will post 9.64 EPS for the current year.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of analyst reports. DA Davidson reiterated a "buy" rating and issued a $325.00 target price on shares of Autodesk in a research note on Friday, May 29th. KeyCorp dropped their price target on shares of Autodesk from $365.00 to $341.00 and set an "overweight" rating on the stock in a research note on Thursday, May 21st. BMO Capital Markets cut their price target on shares of Autodesk from $279.00 to $262.00 and set a "market perform" rating on the stock in a report on Friday, May 29th. UBS Group reaffirmed a "buy" rating on shares of Autodesk in a research note on Friday, May 29th. Finally, Piper Sandler decreased their price objective on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating for the company in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $323.40.

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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