Summit Global Investments Invests $738,000 in Autodesk, Inc. $ADSK

Summit Global Investments purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,798 shares of the software company’s stock, valued at approximately $738,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADSK. Quantinno Capital Management LP lifted its stake in shares of Autodesk by 17.8% in the first quarter. Quantinno Capital Management LP now owns 385,572 shares of the software company’s stock valued at $92,306,000 after purchasing an additional 58,285 shares during the period. SG Americas Securities LLC grew its position in Autodesk by 158.4% during the first quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock worth $65,248,000 after buying an additional 167,064 shares during the period. Man Group plc grew its position in Autodesk by 28.6% during the fourth quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock worth $364,076,000 after buying an additional 273,765 shares during the period. Seilern Investment Management Ltd increased its holdings in Autodesk by 11.0% in the second quarter. Seilern Investment Management Ltd now owns 227,675 shares of the software company’s stock valued at $44,265,000 after buying an additional 22,547 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Autodesk by 9.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,032,443 shares of the software company’s stock valued at $247,167,000 after acquiring an additional 85,967 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

ADSK has been the topic of several research analyst reports. Weiss Ratings lowered Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Robert W. Baird reduced their price objective on Autodesk from $355.00 to $312.00 and set an “outperform” rating for the company in a report on Friday, April 17th. DA Davidson reiterated a “buy” rating and set a $325.00 target price on shares of Autodesk in a research report on Friday, May 29th. Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, KeyCorp dropped their price target on Autodesk from $365.00 to $341.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $321.07.

Insider Transactions at Autodesk

In related news, Director Stacy J. Smith acquired 3,435 shares of Autodesk stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the transaction, the director directly owned 26,517 shares of the company’s stock, valued at $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average cost 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. The trade was a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 7,935 shares of company stock valued at $1,666,644 over the last three months. 0.14% of the stock is currently owned by insiders.

Autodesk Trading Down 2.4%

Shares of ADSK opened at $251.66 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $216.31 and a 200-day simple moving average of $232.28. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09. The stock has a market cap of $53.10 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.15. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.Autodesk’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 EPS. 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 analysts forecast that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

About Autodesk

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.