Wealthfront Advisers LLC Invests $3.09 Million in Autodesk, Inc. $ADSK

Wealthfront Advisers LLC acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 15,882 shares of the software company’s stock, valued at approximately $3,088,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Torren Management LLC bought a new position in Autodesk in the fourth quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Autodesk during the third quarter worth $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk during the fourth quarter worth $25,000. Archer Investment Corp raised its holdings in shares of Autodesk by 112.2% during the fourth quarter. Archer Investment Corp now owns 87 shares of the software company’s stock worth $26,000 after acquiring an additional 46 shares during the period. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Autodesk during the fourth quarter worth $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADSK. KeyCorp reaffirmed an “overweight” rating on shares of Autodesk in a research note on Wednesday. New Street Research set a $277.00 price target on Autodesk in a research note on Thursday. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Rothschild & Co Redburn reduced their price objective on Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, Loop Capital decreased their price objective on Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have assigned 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 $321.23.

Insider Activity at Autodesk

In related news, Director Stacy J. Smith purchased 3,435 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the purchase, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Janesh Moorjani purchased 2,500 shares of the stock in a transaction on Monday, June 15th. The shares were bought at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the transaction, the executive vice president directly owned 50,993 shares in the company, valued at approximately $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is owned by insiders.

Autodesk Stock Down 0.1%

Autodesk stock opened at $251.02 on Friday. The company has a market cap of $52.97 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09. The company has a fifty day simple moving average of $218.61 and a 200 day simple moving average of $231.62. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping 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 firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm posted $2.29 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Research analysts anticipate 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.