24,432 Shares in Autodesk, Inc. $ADSK Purchased by Westpac Banking Corp

Westpac Banking Corp purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,432 shares of the software company’s stock, valued at approximately $4,750,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Autodesk in the second quarter valued at approximately $4,828,855,000. Norges Bank acquired a new stake in shares of Autodesk during the fourth quarter worth $867,480,000. Northwestern Mutual Wealth Management Co. grew its position in Autodesk by 44,345.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock valued at $675,055,000 after buying an additional 2,275,384 shares during the last quarter. Deutsche Bank AG acquired a new position in Autodesk in the 2nd quarter valued at $322,851,000. Finally, Bank of New York Mellon Corp purchased a new position in Autodesk during the 2nd quarter worth $228,908,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $253.82 on Friday. The firm has a market capitalization of $53.56 billion, a P/E ratio of 37.00, a PEG ratio of 1.54 and a beta of 1.29. Autodesk, Inc. has a one year low of $185.50 and a one year high of $329.09. The company’s fifty day moving average is $219.71 and its two-hundred day moving average is $231.77. 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 (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $2.29 EPS. The business’s revenue was up 18.4% compared to the same quarter last year. 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 forecast that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

Analyst Ratings Changes

ADSK has been the subject of several recent analyst reports. BMO Capital Markets reduced their target price on shares of Autodesk from $279.00 to $262.00 and set a “market perform” rating for the company in a research note on Friday, May 29th. Morgan Stanley dropped their price target on shares of Autodesk from $350.00 to $315.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. DA Davidson reissued a “buy” rating and set a $325.00 price target on shares of Autodesk in a report on Friday, May 29th. The Goldman Sachs Group began coverage on shares of Autodesk in a research report on Tuesday, August 11th. They issued a “neutral” rating and a $260.00 price objective for the company. Finally, Guggenheim lifted their price objective on Autodesk from $245.00 to $277.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average target price of $321.65.

Insiders Place Their Bets

In other news, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $189.20 per share, with a total value of $378,400.00. Following the purchase, the director directly owned 4,000 shares of the company’s stock, valued at $756,800. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the acquisition, the executive vice president 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. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is owned by company 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.