Osterweis Capital Management Inc. Makes New Investment in Autodesk, Inc. $ADSK

Osterweis Capital Management Inc. bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 12,000 shares of the software company’s stock, valued at approximately $2,333,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Autodesk during the 2nd quarter worth $4,828,855,000. State Street Corp boosted its stake in Autodesk by 0.7% in the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock valued at $3,006,818,000 after acquiring an additional 70,053 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Autodesk by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock worth $1,677,404,000 after purchasing an additional 123,691 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Autodesk by 5.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock worth $752,824,000 after purchasing an additional 155,255 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Autodesk during the fourth quarter worth about $867,480,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Janesh Moorjani bought 2,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $197.67 per share, with a total value of $494,175.00. Following the completion of the acquisition, the executive vice president owned 50,993 shares in the company, valued at approximately $10,079,786.31. This trade represents a 5.16% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average price of $189.20 per share, with a total value of $378,400.00. Following the purchase, the director directly owned 4,000 shares of the company’s stock, valued at approximately $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 90 days, insiders have purchased 7,935 shares of company stock valued at $1,666,644. Company insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of ADSK opened at $251.21 on Wednesday. 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 fifty-two week low of $185.50 and a fifty-two week high of $329.09. The firm has a 50-day simple moving average of $221.83 and a 200-day simple moving average of $231.76. The company has a market capitalization of $53.01 billion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results 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 firm had revenue of $1.93 billion for 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 firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. On average, equities research analysts anticipate that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Royal Bank Of Canada reduced their target price on Autodesk from $335.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, May 29th. BNP Paribas Exane initiated coverage on Autodesk in a research report on Thursday, June 18th. They set an “outperform” rating and a $295.00 price target on the stock. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a research note on Tuesday, May 26th. Bank of America reissued a “buy” rating and issued a $300.00 price objective on shares of Autodesk in a report on Tuesday, May 12th. Finally, Piper Sandler lowered their target price on shares of Autodesk from $383.00 to $369.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Two equities research 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, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price 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.