NewEdge Wealth LLC Makes New Investment in Autodesk, Inc. $ADSK

NewEdge Wealth LLC bought a new position in Autodesk, Inc. (NASDAQ:ADSK) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,682 shares of the software company’s stock, valued at approximately $1,688,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Torren Management LLC purchased a new position in Autodesk in the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Autodesk during the 3rd quarter valued at $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk during the 4th quarter worth $25,000. Archer Investment Corp boosted its holdings in shares of Autodesk by 112.2% in the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock worth $26,000 after buying an additional 46 shares during the last quarter. Finally, Prosperity Bancshares Inc bought a new position in Autodesk during the fourth quarter valued at about $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $189.20 per share, with a total value of $378,400.00. Following the acquisition, the director directly owned 4,000 shares in the company, valued at approximately $756,800. The trade was a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stacy J. Smith purchased 3,435 shares of the company’s stock in a transaction dated 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 transaction, the director owned 26,517 shares in the company, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is currently owned by company insiders.

Autodesk Trading Up 1.1%

Shares of ADSK opened at $253.82 on Friday. Autodesk, Inc. has a twelve month low of $185.50 and a twelve month high of $329.09. The stock has a market cap of $53.56 billion, a PE 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. The business’s 50-day moving average price is $219.71 and its 200-day moving average price is $231.77.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.15. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk’s revenue was up 18.4% compared to the same quarter last year. During the same period 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. On average, equities analysts forecast that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on ADSK shares. Rothschild & Co Redburn lowered their price objective on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Loop Capital lowered their price target on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Weiss Ratings downgraded Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a research note on Tuesday, May 26th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $330.00 price objective on shares of Autodesk in a research note on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.65.

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.