Harvey Capital Management Inc. Buys Shares of 9,330 Autodesk, Inc. $ADSK

Harvey Capital Management Inc. purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) in the second quarter, Holdings Channel.com reports. The firm purchased 9,330 shares of the software company’s stock, valued at approximately $1,814,000.

Several other hedge funds have also recently made changes to their positions in ADSK. Measured Wealth Private Client Group LLC bought a new position in shares of Autodesk during the 3rd quarter valued at $25,000. Torren Management LLC bought a new stake in shares of Autodesk in the fourth quarter worth $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk in the fourth quarter worth $25,000. Archer Investment Corp increased its position in Autodesk by 112.2% during the fourth quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. Finally, Prosperity Bancshares Inc bought a new position in Autodesk in the fourth quarter valued at about $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Up 6.2%

Shares of NASDAQ:ADSK opened at $270.58 on Friday. The stock has a 50 day moving average of $224.60 and a 200 day moving average of $232.09. The company has a market cap of $57.09 billion, a PE ratio of 39.44, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29. 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.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.18. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.62 EPS. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. As a group, equities research analysts expect that Autodesk, Inc. will post 9.7 EPS for the current year.

Insiders Place Their Bets

In other news, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $189.20 per share, with a total value of $378,400.00. Following the acquisition, the director owned 4,000 shares of the company’s stock, valued at approximately $756,800. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the business’s stock in a transaction on Monday, June 15th. The stock was acquired 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 in the company, valued at $10,079,786.31. This represents a 5.16% increase in their position. The SEC filing for this purchase provides additional information. 0.14% of the stock is currently owned by insiders.

More Autodesk News

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Quarterly results exceeded expectations: Autodesk reported adjusted earnings of $3.30 per share versus the $3.12 consensus estimate, while revenue rose 16.1% year over year to $2.05 billion, ahead of the $2.01 billion forecast. Earnings also increased from $2.62 per share in the prior-year quarter. Autodesk Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Full-year outlook was raised: Autodesk now expects fiscal 2027 adjusted EPS of $12.52-$12.60, above the $12.02 analyst consensus, and revenue of $8.6-$8.7 billion versus the $8.2 billion consensus. The outlook suggests continued demand for its design and engineering software. Autodesk Posts Strong Q2 Results, Raises 2027 Outlook
• Positive Sentiment: Growth remained broad and strategically supported: Management highlighted AI-powered project intelligence and connected data as tools that could improve customer productivity and help address labor shortages. Revenue growth was 14% on a constant-currency basis. Autodesk Fiscal 2027 Second Quarter Results
• Neutral Sentiment: Near-term guidance was mixed: Autodesk forecast third-quarter EPS of $3.04-$3.09 and revenue of approximately $2.1 billion. While some published comparisons show the EPS range above consensus, reports noted that the profit outlook fell short of higher investor expectations, pressuring the shares in after-hours trading. Autodesk Forecasts Quarterly Profit Below Wall Street Estimates
• Negative Sentiment: AI disruption remains a risk: Investors are concerned that rapidly improving AI tools could reduce the value of traditional design-software workflows or increase competitive pressure, making future growth and pricing power less certain. Autodesk Shares Slip as Q3 EPS Guidance Comes in Below Estimates

Wall Street Analysts Forecast Growth

ADSK has been the subject of several research reports. New Street Research set a $277.00 price target on shares of Autodesk in a research report on Thursday, August 20th. Royal Bank Of Canada dropped their price objective 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. Piper Sandler cut their target price on shares of Autodesk from $383.00 to $369.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Weiss Ratings cut shares of Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Loop Capital decreased their price target on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $322.97.

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.