Renaissance Technologies LLC Has $68.39 Million Stake in Autodesk, Inc. $ADSK

Renaissance Technologies LLC increased its position in Autodesk, Inc. (NASDAQ:ADSK) by 591.3% in the 1st quarter, Holdings Channel reports. The firm owned 285,688 shares of the software company’s stock after buying an additional 244,360 shares during the quarter. Renaissance Technologies LLC’s holdings in Autodesk were worth $68,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Autodesk Price Performance

Shares of ADSK stock opened at $209.75 on Monday. Autodesk, Inc. has a 1 year low of $185.50 and a 1 year high of $329.09. 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 firm’s 50 day moving average is $214.93 and its 200-day moving average is $234.95. The firm has a market capitalization of $44.26 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.29 and a beta of 1.32.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share 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 analyst estimates of $1.89 billion. During the same quarter last year, the business posted $2.29 earnings per share. Autodesk’s revenue for the quarter 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. Sell-side analysts forecast that Autodesk, Inc. will post 9.64 EPS for the current fiscal year.

Insider Activity

In other news, Director Stacy J. Smith bought 3,435 shares of the stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $231.17 per share, with a total value of $794,068.95. Following the purchase, the director owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average price of $189.20 per share, with a total value of $378,400.00. Following the transaction, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 7,935 shares of company stock valued at $1,666,644. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. KeyCorp dropped their price target on shares of Autodesk from $365.00 to $341.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Robert W. Baird lowered their price objective on Autodesk from $355.00 to $312.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Morgan Stanley dropped their target price on Autodesk from $350.00 to $315.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Rothschild & Co Redburn cut their target price on Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, Loop Capital decreased their price target on Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a research note on Friday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $323.40.

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.