Assetmark Inc. Purchases 7,230 Shares of Autodesk, Inc. $ADSK

Assetmark Inc. increased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,471 shares of the software company’s stock after purchasing an additional 7,230 shares during the period. Assetmark Inc.’s holdings in Autodesk were worth $14,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Autodesk in the 4th quarter worth about $867,480,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Autodesk by 44,345.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock valued at $675,055,000 after buying an additional 2,275,384 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock valued at $884,884,000 after buying an additional 952,343 shares during the period. Wellington Management Group LLP boosted its stake in shares of Autodesk by 103.5% in the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company’s stock valued at $552,994,000 after buying an additional 950,149 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in Autodesk by 80.2% during the first quarter. Pictet Asset Management Holding SA now owns 2,103,376 shares of the software company’s stock worth $503,521,000 after buying an additional 936,388 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ADSK. Rothschild & Co Redburn dropped their price objective on Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a report on Monday, June 1st. Arete Research decreased their price target on Autodesk from $460.00 to $456.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Robert W. Baird dropped 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $330.00 price objective on shares of Autodesk in a research report on Monday, June 1st. Finally, Piper Sandler reduced their price objective on shares of Autodesk from $383.00 to $369.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.10.

Autodesk Price Performance

Autodesk stock opened at $218.35 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 0.83. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week high of $329.09. The stock has a market capitalization of $46.07 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.32. The stock has a fifty day moving average of $217.43 and a 200-day moving average of $237.90.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the business posted $2.29 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. 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 expect that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stacy J. Smith purchased 3,435 shares of the stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the acquisition, the director owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of Autodesk stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the transaction, the director directly owned 4,000 shares in the company, valued at $756,800. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is currently owned by insiders.

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.