Autodesk (NASDAQ:ADSK) Shares Gap Up – Here’s What Happened

Autodesk, Inc. (NASDAQ:ADSK)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $207.54, but opened at $215.99. Autodesk shares last traded at $213.6880, with a volume of 300,833 shares trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on ADSK. Loop Capital reduced their price target 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. Citigroup increased their target price on shares of Autodesk from $246.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. KeyCorp dropped their price objective on Autodesk from $365.00 to $341.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Finally, Robert W. Baird cut their price target on Autodesk from $355.00 to $312.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.10.

Autodesk Trading Up 3.2%

The stock has a market cap of $45.19 billion, a PE ratio of 31.21, a P/E/G ratio of 1.28 and a beta of 1.32. The firm has a 50-day simple moving average of $223.32 and a 200-day simple moving average of $244.07. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Equities analysts forecast that Autodesk, Inc. will post 9.64 earnings per share for the current year.

Insider Transactions at Autodesk

In other news, EVP Janesh Moorjani bought 2,500 shares of the stock in a transaction on Monday, June 15th. The shares were acquired at an average cost of $197.67 per share, for a total transaction 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. This trade represents a 5.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Cahill purchased 2,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $189.20 per share, with a total value of $378,400.00. Following the completion of the acquisition, the director owned 4,000 shares in the company, valued at approximately $756,800. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

A number of institutional investors and hedge funds have recently made changes to their positions in ADSK. CoreCap Advisors LLC increased its stake in Autodesk by 25.6% in the second quarter. CoreCap Advisors LLC now owns 2,507 shares of the software company’s stock valued at $487,000 after acquiring an additional 511 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Autodesk by 127.1% in the 1st quarter. Empowered Funds LLC now owns 38,132 shares of the software company’s stock worth $9,129,000 after purchasing an additional 21,341 shares in the last quarter. Lombard Odier Asset Management Europe Ltd boosted its holdings in shares of Autodesk by 20.6% in the 1st quarter. Lombard Odier Asset Management Europe Ltd now owns 57,391 shares of the software company’s stock worth $13,739,000 after purchasing an additional 9,794 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Autodesk by 12.6% during the 1st quarter. Parallel Advisors LLC now owns 3,901 shares of the software company’s stock valued at $934,000 after purchasing an additional 438 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Autodesk by 41.4% during the 1st quarter. NewEdge Advisors LLC now owns 41,069 shares of the software company’s stock valued at $9,832,000 after buying an additional 12,031 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

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.