Westerkirk Capital Inc. Raises Stake in Autodesk, Inc. $ADSK

Westerkirk Capital Inc. boosted its position in Autodesk, Inc. (NASDAQ:ADSK) by 50.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,020 shares of the software company’s stock after purchasing an additional 3,034 shares during the period. Westerkirk Capital Inc.’s holdings in Autodesk were worth $2,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ADSK. Norges Bank purchased a new stake in Autodesk in the fourth quarter worth approximately $867,480,000. Northwestern Mutual Wealth Management Co. boosted its stake in Autodesk by 44,345.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock worth $675,055,000 after buying an additional 2,275,384 shares in the last quarter. Wellington Management Group LLP boosted its stake in Autodesk by 326.9% in the third quarter. Wellington Management Group LLP now owns 918,010 shares of the software company’s stock worth $291,624,000 after buying an additional 702,974 shares in the last quarter. First Trust Advisors LP boosted its stake in Autodesk by 197.1% in the third quarter. First Trust Advisors LP now owns 910,768 shares of the software company’s stock worth $289,324,000 after buying an additional 604,235 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Autodesk by 51,159.6% in the third quarter. Two Sigma Investments LP now owns 512,596 shares of the software company’s stock worth $162,836,000 after buying an additional 511,596 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of Autodesk stock opened at $225.04 on Tuesday. 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 company has a market cap of $47.48 billion, a PE ratio of 32.80, a P/E/G ratio of 1.43 and a beta of 1.30. The business has a 50 day moving average of $237.42 and a 200 day moving average of $257.45. Autodesk, Inc. has a 52 week low of $214.10 and a 52 week high of $329.09.

Autodesk (NASDAQ:ADSK) last announced its earnings results 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 the consensus estimate of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company 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. As a group, equities research analysts forecast that Autodesk, Inc. will post 9.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADSK. Piper Sandler dropped their price objective on Autodesk from $383.00 to $369.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Oppenheimer dropped their price objective on Autodesk from $375.00 to $325.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. BTIG Research reissued a “buy” rating and set a $300.00 price objective on shares of Autodesk in a research note on Friday, May 29th. KeyCorp dropped their price objective on Autodesk from $365.00 to $341.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. increased their price objective on Autodesk from $319.00 to $336.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Two investment 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 stock has a consensus rating of “Moderate Buy” and an average price target of $327.21.

Insider Activity at Autodesk

In other Autodesk news, Director Stacy J. Smith bought 3,435 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the acquisition, the director directly owned 26,517 shares in the company, valued at $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.