Summit Global Investments Makes New Investment in Autodesk, Inc. $ADSK

Summit Global Investments purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 3,798 shares of the software company’s stock, valued at approximately $738,000.

A number of other large investors also recently made changes to their positions in the business. Quantinno Capital Management LP increased its stake in Autodesk by 17.8% in the first quarter. Quantinno Capital Management LP now owns 385,572 shares of the software company’s stock valued at $92,306,000 after purchasing an additional 58,285 shares during the last quarter. SG Americas Securities LLC boosted its stake in Autodesk by 158.4% in the 1st quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock worth $65,248,000 after buying an additional 167,064 shares during the last quarter. Man Group plc boosted its stake in Autodesk by 28.6% in the 4th quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock worth $364,076,000 after buying an additional 273,765 shares during the last quarter. Seilern Investment Management Ltd grew its holdings in Autodesk by 11.0% in the 2nd quarter. Seilern Investment Management Ltd now owns 227,675 shares of the software company’s stock valued at $44,265,000 after buying an additional 22,547 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Autodesk by 9.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,032,443 shares of the software company’s stock valued at $247,167,000 after buying an additional 85,967 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ADSK shares. The Goldman Sachs Group started coverage on shares of Autodesk in a research note on Tuesday. They set a “neutral” rating and a $260.00 price objective for the company. UBS Group restated a “buy” rating on shares of Autodesk in a report on Friday, May 29th. Zacks Research lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Finally, Morgan Stanley decreased their price target 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. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.07.

Autodesk Stock Performance

NASDAQ ADSK opened at $251.66 on Friday. The firm has a market capitalization of $53.10 billion, a P/E ratio of 36.69, a P/E/G ratio of 1.58 and a beta of 1.29. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year high of $329.09. 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 business’s 50-day simple moving average is $216.31 and its 200-day simple moving average is $232.28.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.15. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business 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. Equities analysts predict that Autodesk, Inc. will post 9.7 EPS for the current year.

Insiders Place Their Bets

In other Autodesk news, EVP Janesh Moorjani acquired 2,500 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the purchase, the executive vice president directly 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average cost of $189.20 per share, with a total value of $378,400.00. Following the transaction, the director directly owned 4,000 shares of the company’s stock, valued at approximately $756,800. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 7,935 shares of company stock worth $1,666,644 over the last ninety days. 0.14% of the stock is owned by company 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.