Castleark Management LLC Takes $7.65 Million Position in Autodesk, Inc. $ADSK

Castleark Management LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the first quarter, HoldingsChannel reports. The institutional investor bought 31,940 shares of the software company’s stock, valued at approximately $7,646,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its position in shares of Autodesk by 14.5% in the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock valued at $343,000 after purchasing an additional 147 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Autodesk by 98.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company’s stock worth $765,000 after purchasing an additional 1,224 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in Autodesk in the 2nd quarter valued at $466,000. Baird Financial Group Inc. boosted its stake in Autodesk by 7.5% in the 2nd quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company’s stock valued at $3,111,000 after purchasing an additional 701 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Autodesk by 25.3% in the 2nd 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 in the last quarter. Institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several recent research reports. BMO Capital Markets lowered their price objective on Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a research report on Friday, May 29th. DA Davidson reissued a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research report on Friday, May 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $330.00 price target on shares of Autodesk in a research report on Monday, June 1st. Wells Fargo & Company lowered their price target on shares of Autodesk from $350.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Finally, Zacks Research downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $323.40.

Autodesk Stock Performance

Shares of Autodesk stock opened at $209.75 on Monday. 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, Inc. has a 12-month low of $185.50 and a 12-month high of $329.09. The company has a market capitalization of $44.26 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.29 and a beta of 1.32. The firm’s 50-day moving average price is $214.93 and its two-hundred day moving average price is $234.95.

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 net margin of 19.49% and a return on equity of 57.14%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period 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 forecast that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Janesh Moorjani purchased 2,500 shares of the stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $197.67 per share, with a total value of $494,175.00. Following the acquisition, the executive vice president 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stacy J. Smith acquired 3,435 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the transaction, the director owned 26,517 shares in the company, valued at $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 7,935 shares of company stock worth $1,666,644 over the last three months. Corporate 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.