Wealthfront Advisers LLC Takes Position in Autodesk, Inc. $ADSK

Key Points

• Wealthfront Advisers purchased 15,882 Autodesk shares worth approximately $3.1 million in the second quarter. Institutional investors collectively own 90.24% of Autodesk’s outstanding stock.
• Autodesk reported quarterly EPS of $2.99, exceeding the $2.84 analyst consensus, while revenue rose 18.4% year over year to $1.93 billion.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $321.23, compared with the reported share price of $251.02.

Wealthfront Advisers LLC purchased a new position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,882 shares of the software company's stock, valued at approximately $3,088,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Advisory Services Inc. purchased a new position in Autodesk during the second quarter valued at approximately $1,119,000. Pzena Investment Management LLC acquired a new stake in Autodesk in the second quarter valued at approximately $293,000. Citizens Financial Group Inc. RI bought a new stake in Autodesk in the second quarter worth $339,000. Grandfield & Dodd LLC bought a new stake in shares of Autodesk during the 2nd quarter worth about $28,640,000. Finally, BlackRock Inc. bought a new stake in Autodesk during the second quarter worth approximately $4,828,855,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $251.02 on Friday. The firm has a fifty day moving average of $218.61 and a two-hundred day moving average of $231.62. The stock has a market capitalization of $52.97 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 1.54 and a beta of 1.29. 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, Inc. has a 52 week low of $185.50 and a 52 week high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its 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 firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company's revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the business 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, equities research analysts predict that Autodesk, Inc. will post 9.7 EPS for the current year.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of recent analyst reports. New Street Research set a $277.00 price target on shares of Autodesk in a report on Thursday. Royal Bank Of Canada lowered their target price on shares of Autodesk from $335.00 to $305.00 and set an "outperform" rating on the stock in a research note on Friday, May 29th. Rothschild & Co Redburn lowered their price target on Autodesk from $375.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, June 1st. Weiss Ratings lowered shares of Autodesk from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, July 10th. Finally, Bank of America restated a "buy" rating and issued a $300.00 target price on shares of Autodesk in a research note on Tuesday, May 12th. Two equities 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $321.23.

Insider Activity at Autodesk

In other news, Director John T. Cahill bought 2,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average price of $189.20 per share, with a total value of $378,400.00. Following the completion of the purchase, the director owned 4,000 shares of the company's stock, valued at approximately $756,800. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Janesh Moorjani bought 2,500 shares of the business's stock in a transaction on Monday, June 15th. The stock was purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the acquisition, the executive vice president owned 50,993 shares of the company's stock, valued at approximately $10,079,786.31. This trade represents a 5.16% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is currently owned by company insiders.

Autodesk 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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