8,682 Shares in Autodesk, Inc. $ADSK Bought by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,682 shares of the software company’s stock, valued at approximately $1,688,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Autodesk during the 2nd quarter worth approximately $4,828,855,000. Norges Bank bought a new position in shares of Autodesk during the fourth quarter valued at $867,480,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Autodesk by 44,345.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock worth $675,055,000 after purchasing an additional 2,275,384 shares during the period. Deutsche Bank AG acquired a new position in shares of Autodesk during the second quarter worth $322,851,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Autodesk in the second quarter worth $228,908,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Performance

NASDAQ:ADSK opened at $253.82 on Friday. The company has a fifty day moving average of $219.71 and a 200-day moving average of $231.77. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09. The firm has a market capitalization of $53.56 billion, a P/E ratio of 37.00, a P/E/G ratio of 1.54 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78.

Autodesk (NASDAQ:ADSK) last issued its 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 return on equity of 57.14% and a net margin of 19.49%.The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business posted $2.29 EPS. The firm’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. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 9.7 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADSK. Barclays restated an “overweight” rating on shares of Autodesk in a report on Wednesday. Piper Sandler decreased their price target on Autodesk from $383.00 to $369.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. DA Davidson restated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research report on Friday, May 29th. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, KeyCorp restated an “overweight” rating on shares of Autodesk in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $321.65.

Insiders Place Their Bets

In related news, Director John T. Cahill purchased 2,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Janesh Moorjani bought 2,500 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the acquisition, the executive vice president directly 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 90 days, insiders have acquired 7,935 shares of company stock worth $1,666,644. Insiders own 0.14% of the company’s stock.

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.