The Manufacturers Life Insurance Company Makes New Investment in Autodesk, Inc. $ADSK

Key Points

• The Manufacturers Life Insurance Company acquired 444,419 Autodesk shares worth approximately $86.4 million, giving it a 0.21% stake. Institutional investors collectively own 90.24% of the company.
• Autodesk reported quarterly EPS of $2.99, beating estimates of $2.84, while revenue rose 18.4% year over year to $1.93 billion.
• Analysts maintain a generally positive view, with Autodesk receiving a “Moderate Buy” consensus rating and an average price target of $321.65, above its reported share price of $251.21.

The Manufacturers Life Insurance Company bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 444,419 shares of the software company's stock, valued at approximately $86,404,000. The Manufacturers Life Insurance Company owned about 0.21% of Autodesk as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADSK. Brighton Jones LLC raised its holdings in shares of Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock worth $343,000 after purchasing an additional 147 shares during the period. Sivia Capital Partners LLC grew its holdings 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 purchasing an additional 1,224 shares during the period. Schnieders Capital Management LLC. purchased a new stake in Autodesk in the second quarter worth $466,000. Baird Financial Group Inc. increased its position 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 raised its stake in shares of Autodesk by 25.3% in the second quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company's stock valued at $4,291,000 after buying an additional 2,795 shares during the period. 90.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director John T. Cahill bought 2,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Janesh Moorjani purchased 2,500 shares of the business's stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the acquisition, the executive vice president owned 50,993 shares in the company, valued at approximately $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 7,935 shares of company stock worth $1,666,644 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Stock Down 1.3%

Shares of NASDAQ ADSK opened at $251.21 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The company has a market cap of $53.01 billion, a P/E ratio of 36.62, a P/E/G ratio of 1.56 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 business has a 50-day simple moving average of $221.83 and a two-hundred day simple moving average of $231.76.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced 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. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. 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 9.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Autodesk in a research report on Tuesday, August 11th. They set a "neutral" rating and a $260.00 price target on the stock. Robert W. Baird upped their price objective on shares of Autodesk from $312.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, August 21st. DA Davidson reiterated a "buy" rating and set a $325.00 target price on shares of Autodesk in a research report on Friday, May 29th. Piper Sandler reduced their target price on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Finally, BTIG Research reissued a "buy" rating and issued a $300.00 price target on shares of Autodesk in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and an average price target of $321.65.

Autodesk Company 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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