Sone Capital Management LLC Buys New Position in Autodesk, Inc. $ADSK

Key Points

• Sone Capital Management purchased 47,487 Autodesk shares worth approximately $9.2 million in the second quarter. Institutional investors collectively own 90.24% of Autodesk’s stock.
• Autodesk reported quarterly EPS of $2.99, exceeding estimates of $2.84, while revenue rose 18.4% year over year to $1.93 billion. Shares opened at $254.42, with a market capitalization of approximately $53.7 billion.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $321.65; insiders have also purchased 7,935 shares worth about $1.67 million over the past 90 days.

Sone Capital Management LLC purchased a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 47,487 shares of the software company's stock, valued at approximately $9,232,000.

A number of other hedge funds have also added to or reduced their stakes in ADSK. Brighton Jones LLC raised its stake in Autodesk by 14.5% in the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock worth $343,000 after buying an additional 147 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Autodesk by 98.1% during the second quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company's stock valued at $765,000 after buying an additional 1,224 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Autodesk in the 2nd quarter worth about $466,000. Baird Financial Group Inc. raised its holdings in Autodesk by 7.5% in the second quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company's stock worth $3,111,000 after buying an additional 701 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Autodesk by 25.3% in the 2nd quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company's stock valued at $4,291,000 after acquiring an additional 2,795 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Up 0.2%

Shares of NASDAQ:ADSK opened at $254.42 on Tuesday. The stock's 50-day simple moving average is $220.83 and its two-hundred day simple moving average is $231.70. The stock has a market capitalization of $53.68 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 1.55 and a beta of 1.29. Autodesk, Inc. has a 52-week low of $185.50 and a 52-week high of $329.09. 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 released its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.84 by $0.15. The firm had revenue of $1.93 billion during 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 revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior 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. Analysts expect that Autodesk, Inc. will post 9.7 EPS for the current year.

Insiders Place Their Bets

In other Autodesk news, EVP Janesh Moorjani purchased 2,500 shares of the company's stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares of the company's stock, valued at $10,079,786.31. The trade was a 5.16% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stacy J. Smith acquired 3,435 shares of the business's stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $231.17 per share, with a total value of $794,068.95. Following the transaction, the director 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. Over the last ninety days, insiders have acquired 7,935 shares of company stock worth $1,666,644. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several recent analyst reports. Barclays reaffirmed an "overweight" rating on shares of Autodesk in a research report on Wednesday, August 19th. The Goldman Sachs Group began coverage on shares of Autodesk in a research note on Tuesday, August 11th. They set a "neutral" rating and a $260.00 target price on the stock. KeyCorp reaffirmed an "overweight" rating on shares of Autodesk in a report on Wednesday, August 19th. Royal Bank Of Canada reduced their price target on shares of Autodesk from $335.00 to $305.00 and set an "outperform" rating for the company in a research note on Friday, May 29th. Finally, DA Davidson restated a "buy" rating and set a $325.00 price objective on shares of Autodesk in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $321.65.

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.

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