Perigon Wealth Management LLC Takes Position in Autodesk, Inc. $ADSK

Perigon Wealth Management LLC purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,180 shares of the software company’s stock, valued at approximately $424,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new position in Autodesk in the 3rd quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Autodesk during the fourth quarter worth approximately $25,000. Torren Management LLC bought a new stake in shares of Autodesk during the fourth quarter valued at approximately $25,000. Archer Investment Corp boosted its holdings in shares of Autodesk by 112.2% in the fourth quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after purchasing an additional 46 shares during the period. Finally, Prosperity Bancshares Inc purchased a new stake in shares of Autodesk in the fourth quarter valued at approximately $27,000. Institutional investors own 90.24% of the company’s stock.

Insider Activity at Autodesk

In other news, Director Stacy J. Smith purchased 3,435 shares of the business’s stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director owned 26,517 shares of the company’s stock, valued at $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director owned 4,000 shares of the company’s stock, valued at approximately $756,800. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 7,935 shares of company stock valued at $1,666,644 over the last 90 days. Insiders own 0.14% of the company’s stock.

Autodesk Price Performance

ADSK opened at $251.02 on Friday. The firm has a market capitalization of $52.97 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. 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 business’s 50-day moving average is $218.61 and its two-hundred day moving average is $231.62. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $329.09.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating 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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly 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. Research analysts anticipate that Autodesk, Inc. will post 9.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on ADSK. The Goldman Sachs Group initiated coverage on Autodesk in a report on Tuesday, August 11th. They set a “neutral” rating and a $260.00 price objective on the stock. Citigroup upped their target price on Autodesk from $252.00 to $269.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group restated a “buy” rating on shares of Autodesk in a research note on Friday, May 29th. BTIG Research restated a “buy” rating and issued a $300.00 price objective on shares of Autodesk in a report on Friday, May 29th. Finally, Bank of America reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Autodesk in a research note on Tuesday, May 12th. Two analysts have 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.23.

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.