Cibc World Market Inc. Purchases New Stake in Autodesk, Inc. $ADSK

Cibc World Market Inc. purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 39,792 shares of the software company’s stock, valued at approximately $7,736,000.

Other hedge funds have also recently modified their holdings of the company. Torren Management LLC bought a new position in shares of Autodesk during the fourth quarter valued at about $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Autodesk in the third quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new position in Autodesk during the 4th quarter valued at about $25,000. Archer Investment Corp raised its position in Autodesk by 112.2% during the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after purchasing an additional 46 shares during the last quarter. Finally, Prosperity Bancshares Inc bought a new position in Autodesk during the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Autodesk from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Bank of America reaffirmed a “buy” rating and issued a $300.00 price target on shares of Autodesk in a research note on Tuesday, May 12th. Royal Bank Of Canada cut their price target on shares of Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. DA Davidson reissued a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research report on Friday, May 29th. Finally, Loop Capital dropped their target price on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.65.

Insider Activity at Autodesk

In related news, Director Stacy J. Smith acquired 3,435 shares of Autodesk stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $231.17 per share, with a total value of $794,068.95. Following the transaction, the director directly owned 26,517 shares in the company, valued at approximately $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Janesh Moorjani acquired 2,500 shares of the stock in a transaction on Monday, June 15th. The shares were bought at an average price of $197.67 per share, with a total value of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. The trade was a 5.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 7,935 shares of company stock valued at $1,666,644 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of ADSK opened at $251.21 on Wednesday. The stock has a market cap of $53.01 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 1.56 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 fifty-two week low of $185.50 and a fifty-two week high of $329.09. The firm’s 50-day simple moving average is $221.83 and its two-hundred day simple moving average is $231.76.

Autodesk (NASDAQ:ADSK) last announced its 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 the consensus estimate of $1.89 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The business’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. Analysts anticipate that Autodesk, Inc. will post 9.7 earnings per share for the current fiscal year.

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.