Canada Pension Plan Investment Board Invests $91.18 Million in Autodesk, Inc. $ADSK

Canada Pension Plan Investment Board bought a new position in Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 469,006 shares of the software company’s stock, valued at approximately $91,184,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in Autodesk during the fourth quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Autodesk in the 3rd quarter valued at about $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Autodesk during the 4th quarter worth about $25,000. Archer Investment Corp grew its holdings in shares of Autodesk by 112.2% during the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock worth $26,000 after purchasing an additional 46 shares during the period. Finally, Prosperity Bancshares Inc acquired a new stake in Autodesk during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Up 1.4%

NASDAQ ADSK opened at $254.77 on Thursday. The stock has a market cap of $53.76 billion, a PE ratio of 37.14, a P/E/G ratio of 1.54 and a beta of 1.29. Autodesk, Inc. has a fifty-two week low of $185.50 and a fifty-two week high of $329.09. The business has a 50 day moving average price of $223.06 and a two-hundred day moving average price of $231.87. 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 issued 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 the consensus estimate of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. Autodesk’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. As a group, sell-side analysts predict that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

Insider Activity

In other news, EVP Janesh Moorjani purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased 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 approximately $10,079,786.31. This represents a 5.16% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John T. Cahill acquired 2,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the acquisition, the director directly owned 4,000 shares in the company, valued at $756,800. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 7,935 shares of company stock worth $1,666,644. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADSK. Citigroup raised their price target on shares of Autodesk from $252.00 to $269.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Zacks Research lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. New Street Research set a $277.00 target price on shares of Autodesk in a research note on Thursday, August 20th. Morgan Stanley reduced their target price on shares of Autodesk from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Finally, Weiss Ratings cut shares of Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Two equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $321.65.

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.