The Manufacturers Life Insurance Company Invests $86.40 Million in Autodesk, Inc. $ADSK

The Manufacturers Life Insurance Company acquired a new position in Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 444,419 shares of the software company’s stock, valued at approximately $86,404,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ADSK. Measured Wealth Private Client Group LLC bought a new position in shares of Autodesk in the 3rd quarter worth $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk during the 4th quarter worth $25,000. Torren Management LLC purchased a new position in Autodesk in the fourth quarter worth $25,000. Archer Investment Corp grew its position in Autodesk by 112.2% in the fourth quarter. Archer Investment Corp now owns 87 shares of the software company’s stock worth $26,000 after acquiring an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new stake in Autodesk during the fourth quarter valued at about $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ADSK. Robert W. Baird lifted their price target on Autodesk from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, August 21st. Morgan Stanley decreased their price objective on Autodesk from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Rosenblatt Securities restated a “buy” rating and issued a $330.00 target price on shares of Autodesk in a research report on Monday, June 1st. Loop Capital cut their target price on Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a research note on Friday, May 29th. Finally, Zacks Research cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $321.65.

Autodesk Stock Performance

NASDAQ ADSK opened at $251.21 on Wednesday. The company has a 50-day simple moving average of $221.83 and a two-hundred day simple moving average of $231.76. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month high of $329.09. The firm has a market cap of $53.01 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 1.56 and a beta of 1.29. 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 released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.89 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The company’s quarterly revenue 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, equities analysts forecast that Autodesk, Inc. will post 9.7 EPS for the current year.

Insider Buying and Selling

In related news, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average cost 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. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Janesh Moorjani acquired 2,500 shares of the stock in a transaction on Monday, June 15th. The stock was bought at an average price of $197.67 per share, with a total value of $494,175.00. Following the transaction, the executive vice president directly owned 50,993 shares of the company’s stock, valued at approximately $10,079,786.31. The trade was a 5.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 7,935 shares of company stock worth $1,666,644 in the last ninety days. 0.14% of the stock is 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.