Grandfield & Dodd LLC Purchases New Shares in Autodesk, Inc. $ADSK

Grandfield & Dodd LLC bought a new position in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, Holdings Channel.com reports. The firm bought 147,312 shares of the software company’s stock, valued at approximately $28,640,000. Autodesk comprises 1.5% of Grandfield & Dodd LLC’s portfolio, making the stock its 19th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Autodesk in the second quarter valued at approximately $4,828,855,000. Vanguard Group Inc. boosted its holdings in shares of Autodesk by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company’s stock valued at $6,362,192,000 after purchasing an additional 78,928 shares during the last quarter. State Street Corp grew its stake in shares of Autodesk by 0.7% during the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock valued at $3,006,818,000 after buying an additional 70,053 shares during the period. Geode Capital Management LLC increased its holdings in shares of Autodesk by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock worth $1,677,404,000 after buying an additional 123,691 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Autodesk by 5.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock worth $752,824,000 after buying an additional 155,255 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Janesh Moorjani purchased 2,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the transaction, the executive vice president owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director directly owned 4,000 shares of the company’s stock, valued at $756,800. This trade represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 7,935 shares of company stock valued at $1,666,644 over the last quarter. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADSK. BMO Capital Markets reduced their target price on Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a report on Friday, May 29th. Zacks Research lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Guggenheim initiated coverage on Autodesk in a report on Wednesday, July 22nd. They issued a “buy” rating and a $245.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Autodesk in a research note on Tuesday, August 11th. They issued a “neutral” rating and a $260.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Autodesk from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.07.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $241.64 on Tuesday. Autodesk, Inc. has a fifty-two week low of $185.50 and a fifty-two week high of $329.09. The business has a 50 day moving average price of $216.64 and a two-hundred day moving average price of $231.81. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The firm has a market cap of $50.99 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 19.49% and a return on equity of 57.14%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $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. Sell-side analysts expect that Autodesk, Inc. will post 9.7 earnings per share for the current fiscal year.

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.