VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Autodesk, Inc. $ADSK

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 58,985 shares of the software company’s stock, valued at approximately $11,468,000.

A number of other hedge funds have also modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Autodesk by 18,825.0% during the 2nd quarter. California State Teachers Retirement System now owns 58,596,827 shares of the software company’s stock valued at $11,392,395,000 after purchasing an additional 58,287,201 shares during the period. BlackRock Inc. bought a new position in Autodesk in the 2nd quarter worth $4,828,855,000. Bank of America Corp DE purchased a new stake in Autodesk in the 2nd quarter worth $576,727,000. Norges Bank purchased a new stake in Autodesk in the 4th quarter worth $867,480,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Autodesk by 44,345.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock valued at $675,055,000 after acquiring an additional 2,275,384 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Autodesk Price Performance

NASDAQ:ADSK opened at $212.21 on Wednesday. The business’s 50-day moving average is $231.71 and its 200 day moving average is $232.33. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $326.87. The company has a market capitalization of $44.35 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.43 and a beta of 1.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.18. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm earned $2.62 EPS. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. On average, equities research analysts forecast that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John T. Cahill bought 2,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 4,000 shares in the company, valued at $756,800. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the acquisition, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. This trade represents a 5.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ADSK shares. KeyCorp reaffirmed an “overweight” rating on shares of Autodesk in a research note on Wednesday, August 19th. Piper Sandler decreased their target price on Autodesk from $369.00 to $338.00 and set an “overweight” rating on the stock in a research note on Friday, August 28th. DA Davidson set a $325.00 price target on Autodesk in a research note on Friday, August 28th. Wall Street Zen raised shares of Autodesk from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Rothschild & Co Redburn reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus price target of $321.19.

Autodesk Company 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.