Weiss Asset Management LP Invests $8.54 Million in Autodesk, Inc. $ADSK

Weiss Asset Management LP bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 35,656 shares of the software company’s stock, valued at approximately $8,536,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Autodesk in the 4th quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in Autodesk during the 3rd quarter valued at about $25,000. Kemnay Advisory Services Inc. purchased a new position in Autodesk during the 4th quarter valued at about $25,000. Archer Investment Corp grew its position in Autodesk by 112.2% in the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after acquiring an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new stake in Autodesk during the fourth quarter worth about $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Up 2.2%

Shares of NASDAQ:ADSK opened at $209.75 on Friday. Autodesk, Inc. has a fifty-two week low of $185.50 and a fifty-two week high of $329.09. The firm’s 50 day moving average price is $214.93 and its 200 day moving average price is $235.32. 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 stock has a market cap of $44.26 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 1.29 and a beta of 1.32.

Autodesk (NASDAQ:ADSK) last posted 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 company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The firm’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. As a group, equities research analysts predict that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the purchase, the director directly owned 4,000 shares in the company, valued at approximately $756,800. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stacy J. Smith purchased 3,435 shares of the firm’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 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 7,935 shares of company stock valued at $1,666,644. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Autodesk from $315.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Piper Sandler reduced their target price on shares of Autodesk from $383.00 to $369.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. BMO Capital Markets decreased their price target on shares of Autodesk from $279.00 to $262.00 and set a “market perform” rating for the company in a research report on Friday, May 29th. Guggenheim started coverage on shares of Autodesk in a research note on Wednesday. They issued a “buy” rating and a $245.00 price target for the company. Finally, Weiss Ratings lowered Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.40.

About Autodesk

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.