Legal & General Group Plc Invests $422.93 Million in Autodesk, Inc. $ADSK

Legal & General Group Plc bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,175,333 shares of the software company’s stock, valued at approximately $422,928,000.

Other large investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new position in shares of Autodesk during the 3rd quarter worth approximately $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Autodesk in the 4th quarter worth approximately $25,000. Torren Management LLC bought a new position in shares of Autodesk in the fourth quarter valued at approximately $25,000. Archer Investment Corp grew 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 acquiring an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new stake in shares of Autodesk during the fourth quarter valued at approximately $27,000. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Janesh Moorjani acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average cost of $197.67 per share, with a total value 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 represents a 5.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $189.20 per share, with a total value of $378,400.00. Following the completion of the acquisition, the director owned 4,000 shares in the company, valued at $756,800. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 7,935 shares of company stock valued at $1,666,644 over the last three months. 0.14% of the stock is currently owned by insiders.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $251.21 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $221.83 and a two-hundred day simple moving average of $231.76. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09. The firm has a market cap of $53.01 billion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29.

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, beating the consensus estimate of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company 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 anticipate that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ADSK shares. Rothschild & Co Redburn dropped their price target on Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a report on Monday, June 1st. New Street Research set a $277.00 target price on Autodesk in a research report on Thursday, August 20th. DA Davidson reiterated a “buy” rating and set a $325.00 target price on shares of Autodesk in a research note on Friday, May 29th. BTIG Research reissued a “buy” rating and issued a $300.00 price target on shares of Autodesk in a report on Friday, May 29th. Finally, Barclays restated an “overweight” rating on shares of Autodesk in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.65.

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.