Wedge Capital Management L L P NC Grows Position in Autodesk, Inc. $ADSK

Wedge Capital Management L L P NC lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 49.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 353,982 shares of the software company’s stock after purchasing an additional 117,589 shares during the quarter. Autodesk comprises 1.1% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 26th biggest holding. Wedge Capital Management L L P NC owned approximately 0.17% of Autodesk worth $68,821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. Tema ETFs LLC lifted its position in Autodesk by 8.8% during the second quarter. Tema ETFs LLC now owns 4,224 shares of the software company’s stock valued at $821,000 after buying an additional 342 shares during the period. Carolina Wealth Advisors LLC grew its position in shares of Autodesk by 1.5% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 4,764 shares of the software company’s stock worth $926,000 after buying an additional 71 shares during the period. Sage Capital Advisors llc bought a new position in shares of Autodesk in the 2nd quarter worth about $4,007,000. Community Financial Services Group LLC bought a new position in shares of Autodesk in the 2nd quarter worth about $37,000. Finally, Harrell Investment Partners LLC lifted its position in Autodesk by 1.7% during the 2nd quarter. Harrell Investment Partners LLC now owns 6,236 shares of the software company’s stock valued at $1,212,000 after acquiring an additional 107 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Autodesk Stock Down 1.7%

NASDAQ:ADSK opened at $251.59 on Wednesday. The firm has a market cap of $53.09 billion, a P/E ratio of 36.67, a P/E/G ratio of 1.58 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. Autodesk, Inc. has a fifty-two week low of $185.50 and a fifty-two week high of $329.09. The firm has a 50-day simple moving average of $214.99 and a two-hundred day simple moving average of $232.37.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (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 the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The business’s revenue 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. Analysts predict that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Zacks Research lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Rothschild & Co Redburn lowered their target price on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a report on Monday, June 1st. UBS Group reissued a “buy” rating on shares of Autodesk in a research report on Friday, May 29th. Wells Fargo & Company cut their price target on Autodesk from $350.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $330.00 price objective on shares of Autodesk in a research note on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $321.07.

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.