Clear Harbor Asset Management LLC Acquires New Position in Autodesk, Inc. $ADSK

Clear Harbor Asset Management LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,500 shares of the software company’s stock, valued at approximately $1,264,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia purchased a new position in shares of Autodesk during the 2nd quarter worth $6,380,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Autodesk in the second quarter valued at $783,000. Daiichi Life Insurance Co. Ltd. acquired a new position in Autodesk in the second quarter valued at $7,540,000. Foyston Gordon & Payne Inc acquired a new position in Autodesk in the second quarter valued at $5,354,000. Finally, Commerce Bank purchased a new position in Autodesk during the second quarter worth about $3,464,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of research analyst reports. Weiss Ratings lowered Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Loop Capital cut their price objective on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a report on Friday, May 29th. KeyCorp reissued an “overweight” rating on shares of Autodesk in a research report on Wednesday. Zacks Research downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, The Goldman Sachs Group began coverage on shares of Autodesk in a research report on Tuesday, August 11th. They set a “neutral” rating and a $260.00 price target for the company. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $321.65.

Autodesk Trading Up 1.1%

NASDAQ ADSK opened at $253.82 on Friday. The firm has a market capitalization of $53.56 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 1.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. Autodesk, Inc. has a one year low of $185.50 and a one year high of $329.09. The company’s 50 day moving average price is $219.71 and its 200 day moving average price is $231.77.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data 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. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. Autodesk’s revenue for the quarter 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. On average, sell-side analysts predict that Autodesk, Inc. will post 9.7 EPS for the current year.

Insider Buying and Selling

In related news, EVP Janesh Moorjani acquired 2,500 shares of Autodesk stock in a transaction on Monday, June 15th. The shares were bought at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the purchase, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. This trade represents a 5.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stacy J. Smith bought 3,435 shares of the firm’s 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 transaction, the director directly owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 7,935 shares of company stock valued at $1,666,644. Company insiders own 0.14% of the company’s stock.

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.