Cinctive Capital Management LP Invests $9.06 Million in Autodesk, Inc. $ADSK

Cinctive Capital Management LP bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, Holdings Channel.com reports. The fund bought 30,606 shares of the software company’s stock, valued at approximately $9,060,000.

A number of other large investors have also modified their holdings of ADSK. OFI Invest Asset Management grew its holdings in shares of Autodesk by 246.4% in the fourth quarter. OFI Invest Asset Management now owns 52,649 shares of the software company’s stock valued at $15,585,000 after purchasing an additional 37,449 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Autodesk by 46.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 532,504 shares of the software company’s stock valued at $157,627,000 after purchasing an additional 169,099 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Autodesk by 0.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 946,476 shares of the software company’s stock valued at $280,166,000 after purchasing an additional 4,845 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Autodesk in the third quarter valued at about $1,977,000. Finally, Schnieders Capital Management LLC. purchased a new stake in shares of Autodesk in the second quarter valued at about $466,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ADSK. Morgan Stanley dropped their price objective on shares of Autodesk from $350.00 to $315.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. DA Davidson reissued a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a report on Friday, May 29th. Bank of America reissued a “buy” rating and issued a $300.00 price objective on shares of Autodesk in a report on Tuesday, May 12th. Zacks Research lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, UBS Group reissued a “buy” rating on shares of Autodesk in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average target price of $327.21.

Insider Activity

In other news, Director Stacy J. Smith bought 3,435 shares of Autodesk stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Janesh Moorjani bought 2,500 shares of Autodesk stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the acquisition, the executive vice president owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Stock Down 4.1%

Shares of ADSK opened at $193.07 on Thursday. The stock has a market capitalization of $40.74 billion, a PE ratio of 28.14, a P/E/G ratio of 1.24 and a beta of 1.29. Autodesk, Inc. has a 1 year low of $192.30 and a 1 year high of $329.09. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. The company’s 50-day simple moving average is $233.14 and its 200-day simple moving average is $253.13.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.15. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 earnings per share. 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 9.64 earnings per share for the current fiscal year.

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.