iA Global Asset Management Inc. Increases Stock Position in Autodesk, Inc. $ADSK

iA Global Asset Management Inc. raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 26.2% in the 1st quarter, Holdings Channel reports. The firm owned 34,775 shares of the software company’s stock after acquiring an additional 7,212 shares during the period. iA Global Asset Management Inc.’s holdings in Autodesk were worth $8,325,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 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. bought a new position in Autodesk during the fourth quarter valued at approximately $25,000. Torren Management LLC purchased a new position in Autodesk during the 4th quarter valued at approximately $25,000. Archer Investment Corp grew its holdings 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 buying an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc bought a new stake in Autodesk in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. KeyCorp decreased their price objective on Autodesk from $365.00 to $341.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Bank of America reissued a “buy” rating and issued a $300.00 target price on shares of Autodesk in a report on Tuesday, May 12th. Barclays reduced their price target on shares of Autodesk from $315.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. DA Davidson reiterated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research report on Friday, May 29th. Finally, Argus upgraded shares of Autodesk to a “strong-buy” rating in a research report on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $326.10.

Autodesk Trading Up 2.7%

ADSK stock opened at $199.76 on Thursday. The company has a market capitalization of $42.15 billion, a PE ratio of 29.12, a P/E/G ratio of 1.20 and a beta of 1.32. Autodesk, Inc. has a 12 month low of $185.50 and a 12 month high of $329.09. The firm’s 50-day moving average is $224.89 and its 200 day moving average is $245.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83.

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, beating the consensus estimate of $2.84 by $0.15. The company had revenue of $1.93 billion during 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 firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 EPS. 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, research analysts anticipate that Autodesk, Inc. will post 9.64 EPS for the current 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.