Man Group plc Increases Position in Autodesk, Inc. $ADSK

Man Group plc lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 28.6% during the fourth quarter, Holdings Channel reports. The fund owned 1,229,946 shares of the software company’s stock after acquiring an additional 273,765 shares during the period. Autodesk comprises 0.6% of Man Group plc’s investment portfolio, making the stock its 17th largest position. Man Group plc’s holdings in Autodesk were worth $364,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ADSK. Norges Bank purchased a new stake in shares of Autodesk during the fourth quarter worth $867,480,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Autodesk by 44,345.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock worth $675,055,000 after acquiring an additional 2,275,384 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Autodesk by 46.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock worth $884,884,000 after acquiring an additional 952,343 shares during the period. Wellington Management Group LLP increased its position in shares of Autodesk by 326.9% during the third quarter. Wellington Management Group LLP now owns 918,010 shares of the software company’s stock worth $291,624,000 after acquiring an additional 702,974 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Autodesk by 197.1% during the third quarter. First Trust Advisors LP now owns 910,768 shares of the software company’s stock worth $289,324,000 after acquiring an additional 604,235 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $193.07 on Thursday. The firm has a market capitalization of $40.74 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.24 and a beta of 1.29. The business’s fifty day moving average price is $233.14 and its 200 day moving average price is $253.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83. Autodesk, Inc. has a 12 month low of $192.30 and a 12 month high of $329.09.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, May 28th. The software company reported $2.99 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 analyst estimates of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.Autodesk’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 earnings per share. 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 anticipate that Autodesk, Inc. will post 9.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In related news, Director Stacy J. Smith acquired 3,435 shares of the firm’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 completion of the purchase, the director directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 price of $197.67 per share, with a total value of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Oppenheimer cut their price objective on Autodesk from $375.00 to $325.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Bank of America reaffirmed a “buy” rating and set a $300.00 price objective on shares of Autodesk in a research report on Tuesday, May 12th. Barclays cut their price objective on Autodesk from $315.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Finally, BMO Capital Markets dropped their target price on Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.21.

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.