Tocqueville Asset Management L.P. Purchases New Position in Autodesk, Inc. $ADSK

Key Points

• Tocqueville Asset Management initiated a position in Autodesk during the second quarter, purchasing 19,975 shares valued at approximately $3.9 million. Institutional investors collectively own 90.24% of Autodesk’s outstanding stock.
• Autodesk’s latest quarterly results exceeded expectations, with adjusted EPS of $2.99 versus the $2.84 consensus estimate and revenue of $1.93 billion, up 18.4% year over year.
• Wall Street maintains a positive outlook, with Autodesk receiving a consensus rating of “Moderate Buy” and an average price target of $321.23, well above its reported share price of $251.02.

Tocqueville Asset Management L.P. 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. The institutional investor purchased 19,975 shares of the software company's stock, valued at approximately $3,884,000.

Other hedge funds also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Autodesk in the third quarter valued at approximately $25,000. Kemnay Advisory Services Inc. purchased a new stake in Autodesk in the 4th quarter worth $25,000. Torren Management LLC purchased a new stake in Autodesk in the 4th quarter worth $25,000. Archer Investment Corp raised its position in Autodesk by 112.2% during the fourth quarter. Archer Investment Corp now owns 87 shares of the software company's stock worth $26,000 after acquiring an additional 46 shares during the period. Finally, Prosperity Bancshares Inc acquired a new position in Autodesk during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

Autodesk stock opened at $251.02 on Friday. The firm has a 50 day simple moving average of $218.61 and a 200-day simple moving average of $231.62. The stock has a market cap of $52.97 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. 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 1-year low of $185.50 and a 1-year high of $329.09.

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. 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 analyst estimates of $1.89 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The business's revenue for the quarter was up 18.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. On average, analysts expect that Autodesk, Inc. will post 9.7 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADSK shares. Citigroup lifted their target price on shares of Autodesk from $252.00 to $269.00 and gave the company a "neutral" rating in a research report on Thursday. UBS Group restated a "buy" rating on shares of Autodesk in a research report on Friday, May 29th. Guggenheim raised their price target on shares of Autodesk from $245.00 to $277.00 and gave the company a "buy" rating in a research note on Thursday. Zacks Research cut Autodesk from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $330.00 price objective on shares of Autodesk in a research note on Monday, June 1st. Two research 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 stock. According to MarketBeat, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.23.

Insiders Place Their Bets

In other Autodesk news, Director Stacy J. Smith bought 3,435 shares of Autodesk stock in a transaction on Friday, May 29th. The shares were bought at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the transaction, the director directly owned 26,517 shares of the company's stock, 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 document filed with the SEC, which is available at this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, the executive vice president owned 50,993 shares in the company, valued at approximately $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 7,935 shares of company stock valued at $1,666,644 over the last quarter. 0.14% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source