Daiichi Life Insurance Co. Ltd. Takes Position in Autodesk, Inc. $ADSK

Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,780 shares of the software company’s stock, valued at approximately $7,540,000.

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

Autodesk Stock Up 1.1%

Shares of NASDAQ:ADSK opened at $253.82 on Friday. Autodesk, Inc. has a one year low of $185.50 and a one year high of $329.09. The company has a 50 day moving average of $219.71 and a 200-day moving average of $231.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $53.56 billion, a price-to-earnings ratio of 37.00, a P/E/G ratio of 1.55 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping 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 period in the previous year, the firm posted $2.29 earnings per share. Autodesk’s revenue for the quarter 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. On average, sell-side analysts forecast that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Stacy J. Smith bought 3,435 shares of the company’s stock in a transaction on Friday, May 29th. The stock was bought at an average price of $231.17 per share, for a total transaction of $794,068.95. Following the transaction, the director owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Cahill purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the purchase, the director owned 4,000 shares in the company, valued at $756,800. This trade represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 7,935 shares of company stock worth $1,666,644. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in 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. Robert W. Baird upped their price objective on Autodesk from $312.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday. DA Davidson reiterated a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a research report on Friday, May 29th. BTIG Research reissued a “buy” rating and issued a $300.00 target price on shares of Autodesk in a research note on Friday, May 29th. Finally, Piper Sandler dropped their target price on Autodesk from $383.00 to $369.00 and set an “overweight” 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 given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $321.65.

Autodesk Profile

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.