Tensor Edge Capital LLC Makes New Investment in Autodesk, Inc. $ADSK

Key Points

• Tensor Edge Capital LLC disclosed a new first-quarter stake in Autodesk, buying 129,100 shares valued at about $30.9 million. The position makes Autodesk its 9th-largest holding and 5.3% of its portfolio.
• Autodesk drew mixed-but-bullish analyst attention, with several firms lowering price targets while maintaining positive ratings. The stock currently carries a Moderate Buy consensus and an average price target of $326.10.
• The company recently posted better-than-expected quarterly results, reporting EPS of $2.99 on revenue of $1.93 billion, both above estimates. Insider buying also picked up, including purchases by Director John T. Cahill and EVP Janesh Moorjani.

Tensor Edge Capital LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 129,100 shares of the software company's stock, valued at approximately $30,907,000. Autodesk accounts for 5.3% of Tensor Edge Capital LLC's investment portfolio, making the stock its 9th biggest position. Tensor Edge Capital LLC owned 0.06% of Autodesk as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. 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 stake in Autodesk in the 3rd quarter valued at about $25,000. Kemnay Advisory Services Inc. purchased a new stake in Autodesk in the 4th quarter valued at about $25,000. Archer Investment Corp lifted its position in Autodesk by 112.2% in the fourth quarter. Archer Investment Corp now owns 87 shares of the software company's stock valued at $26,000 after buying an additional 46 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in Autodesk in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. 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. Piper Sandler decreased their price objective on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. BNP Paribas Exane started coverage on shares of Autodesk in a research report on Thursday, June 18th. They set an "outperform" rating and a $295.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $330.00 price objective on shares of Autodesk in a research report on Monday, June 1st. Finally, Rothschild & Co Redburn dropped their target price on shares of Autodesk from $375.00 to $360.00 and set a "buy" rating for the company in a report on Monday, June 1st. Two research 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. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of "Moderate Buy" and an average price target of $326.10.

Insider Activity at Autodesk

In other Autodesk news, 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, with a total value of $378,400.00. Following the transaction, the director directly owned 4,000 shares of the company's stock, valued at approximately $756,800. This represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Janesh Moorjani purchased 2,500 shares of the company's stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $197.67 per share, with a total value of $494,175.00. Following the purchase, the executive vice president owned 50,993 shares of the company's stock, valued at approximately $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 7,935 shares of company stock worth $1,666,644. Corporate insiders own 0.14% of the company's stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $207.48 on Friday. The stock has a market capitalization of $43.78 billion, a price-to-earnings 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. The business has a 50-day moving average of $223.32 and a 200 day moving average of $244.42. 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 issued its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.15. The company 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 revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm 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, sell-side analysts forecast that Autodesk, Inc. will post 9.64 earnings per share for the current year.

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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