Vestcor Inc Acquires 7,224 Shares of Autodesk, Inc. $ADSK

Key Points

• Vestcor Inc boosted its Autodesk stake by 51.1% in the fourth quarter, adding 7,224 shares to bring its total to 21,351 shares valued at about $6.32 million.
• Autodesk reported better-than-expected quarterly earnings, with EPS of $2.99 versus the $2.84 estimate and revenue of $1.93 billion, up 18.4% year over year.
• Despite a recent 1.6% decline in trading, Wall Street remains generally positive on the stock, with a consensus Moderate Buy rating and average target price of $327.21.

Vestcor Inc increased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 51.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,351 shares of the software company's stock after acquiring an additional 7,224 shares during the quarter. Vestcor Inc's holdings in Autodesk were worth $6,320,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ADSK. Norges Bank bought a new position in Autodesk during the fourth quarter worth about $867,480,000. Northwestern Mutual Wealth Management Co. increased its holdings in Autodesk by 44,345.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company's stock valued at $675,055,000 after buying an additional 2,275,384 shares during the period. Wellington Management Group LLP increased its holdings in Autodesk by 326.9% in the 3rd quarter. Wellington Management Group LLP now owns 918,010 shares of the software company's stock valued at $291,624,000 after buying an additional 702,974 shares during the period. First Trust Advisors LP increased its holdings in Autodesk by 197.1% in the 3rd quarter. First Trust Advisors LP now owns 910,768 shares of the software company's stock valued at $289,324,000 after buying an additional 604,235 shares during the period. Finally, Two Sigma Investments LP increased its holdings in Autodesk by 51,159.6% in the 3rd quarter. Two Sigma Investments LP now owns 512,596 shares of the software company's stock valued at $162,836,000 after buying an additional 511,596 shares during the period. 90.24% of the stock is owned by institutional investors.

Insider Activity at Autodesk

In other news, Director Stacy J. Smith purchased 3,435 shares of the business's stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, with a total value of $794,068.95. Following the completion of the purchase, the director owned 26,517 shares of the company's stock, valued at $6,129,934.89. This trade represents a 14.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.14% of the company's stock.

Autodesk Trading Down 1.6%

ADSK opened at $229.96 on Friday. The company's 50 day moving average is $237.72 and its 200-day moving average is $258.17. Autodesk, Inc. has a 1-year low of $214.10 and a 1-year high of $329.09. The company has a current ratio of 0.83, a quick ratio of 0.85 and a debt-to-equity ratio of 0.78. The company has a market cap of $48.52 billion, a P/E ratio of 33.52, a PEG ratio of 1.46 and a beta of 1.29.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating 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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company posted $2.29 EPS. The firm's quarterly revenue 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. Equities research analysts predict that Autodesk, Inc. will post 9.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ADSK. KeyCorp decreased their target price on shares of Autodesk from $365.00 to $341.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. Citigroup raised their target price on shares of Autodesk from $246.00 to $252.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Rosenblatt Securities reissued a "buy" rating and issued a $330.00 target price on shares of Autodesk in a report on Monday, June 1st. Wells Fargo & Company decreased their target price on shares of Autodesk from $350.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, May 29th. Finally, Barclays decreased their target price on shares of Autodesk from $315.00 to $300.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $327.21.

Key Stories Impacting Autodesk

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk signed a strategic collaboration agreement with AWS to bring cloud-based products into AWS Marketplace and improve cloud solutions for customers, which could widen distribution and strengthen enterprise adoption. Autodesk signs strategic collaboration agreement with Amazon Web Services
• Positive Sentiment: Autodesk lowered the minimum buy-in for Autodesk Flex to 33 tokens for $99 from 100 tokens for $300, making it easier and cheaper for small businesses to start using its products and potentially expanding its user base. Autodesk for Small Business update: Making it more affordable to get started with Autodesk Flex

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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