Autodesk (NASDAQ:ADSK) Shares Gap Up – What’s Next?

Shares of Autodesk, Inc. (NASDAQ:ADSK) gapped up prior to trading on Tuesday . The stock had previously closed at $207.54, but opened at $215.99. Autodesk shares last traded at $213.6880, with a volume of 300,833 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADSK. BMO Capital Markets cut 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 report on Friday, May 29th. Piper Sandler lowered their price target on Autodesk from $383.00 to $369.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Morgan Stanley dropped their price target on Autodesk from $350.00 to $315.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada decreased their price objective on Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.10.

Autodesk Stock Down 3.0%

The company has a market capitalization of $43.47 billion, a P/E ratio of 30.03, a PEG ratio of 1.31 and a beta of 1.32. 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 company has a 50 day moving average of $221.75 and a 200-day moving average of $242.24.

Autodesk (NASDAQ:ADSK) last released its quarterly 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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.Autodesk’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. 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 analysts anticipate that Autodesk, Inc. will post 9.64 EPS for the current year.

Insider Activity at Autodesk

In related news, Director Stacy J. Smith purchased 3,435 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired 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 approximately $6,129,934.89. The trade was a 14.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Cahill acquired 2,000 shares of Autodesk 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 transaction, the director owned 4,000 shares in the company, valued at approximately $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 purchased a total of 7,935 shares of company stock worth $1,666,644 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of institutional investors have recently bought and sold shares of ADSK. Norges Bank purchased a new position in shares of Autodesk during the 4th quarter worth approximately $867,480,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Autodesk by 44,345.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock valued at $675,055,000 after purchasing an additional 2,275,384 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock worth $884,884,000 after purchasing an additional 952,343 shares during the period. Wellington Management Group LLP grew its stake in Autodesk by 103.5% in the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company’s stock worth $552,994,000 after purchasing an additional 950,149 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in Autodesk by 80.2% in the first quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company’s stock worth $503,521,000 after purchasing an additional 936,388 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

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.