Patron Partners LLC Takes Position in Autodesk, Inc. $ADSK

Patron Partners LLC purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,649 shares of the software company’s stock, valued at approximately $709,000.

A number of other institutional investors also recently bought and sold shares of the stock. CENTRAL TRUST Co boosted its stake in Autodesk by 6.2% during the fourth quarter. CENTRAL TRUST Co now owns 759 shares of the software company’s stock worth $225,000 after buying an additional 44 shares during the period. Smithfield Trust Co lifted its holdings in shares of Autodesk by 5.3% in the 4th quarter. Smithfield Trust Co now owns 893 shares of the software company’s stock worth $266,000 after acquiring an additional 45 shares during the last quarter. Calydon Capital boosted its stake in shares of Autodesk by 1.7% during the 4th quarter. Calydon Capital now owns 2,726 shares of the software company’s stock worth $807,000 after purchasing an additional 45 shares during the period. Archer Investment Corp boosted its stake in shares of Autodesk by 112.2% during the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock worth $26,000 after purchasing an additional 46 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in Autodesk by 5.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,029 shares of the software company’s stock valued at $327,000 after purchasing an additional 52 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADSK shares. Wells Fargo & Company decreased their price objective on shares of Autodesk from $350.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Weiss Ratings downgraded Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Robert W. Baird raised their price target on Autodesk from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday. The Goldman Sachs Group began coverage on Autodesk in a research report on Tuesday, August 11th. They issued a “neutral” rating and a $260.00 price objective on the stock. Finally, Barclays reiterated an “overweight” rating on shares of Autodesk in a research note on Wednesday. Two equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $321.65.

Autodesk Trading Up 1.1%

Shares of NASDAQ:ADSK opened at $253.82 on Friday. The business’s fifty day simple moving average is $219.71 and its 200-day simple moving average is $231.77. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month 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 company has a market capitalization of $53.56 billion, a PE ratio of 37.00, a P/E/G ratio of 1.54 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating 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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly 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 9.7 earnings per share for the current fiscal year.

Insider Activity

In other Autodesk news, Director John T. Cahill acquired 2,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $189.20 per share, with a total value of $378,400.00. Following the transaction, the director directly owned 4,000 shares of the company’s stock, valued at $756,800. This trade 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 hyperlink. Also, Director Stacy J. Smith bought 3,435 shares of the company’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 purchase, the director 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. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 7,935 shares of company stock worth $1,666,644. Insiders own 0.14% of the company’s stock.

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.