Cibc World Market Inc. Grows Stock Position in Autodesk, Inc. $ADSK

Cibc World Market Inc. raised its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 121.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 56,949 shares of the software company’s stock after acquiring an additional 31,285 shares during the quarter. Cibc World Market Inc.’s holdings in Autodesk were worth $16,857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. Measured Wealth Private Client Group LLC purchased a new stake in Autodesk in the third quarter valued at about $25,000. Torren Management LLC purchased a new stake in Autodesk in the fourth quarter valued at about $25,000. Archer Investment Corp raised its stake in Autodesk by 112.2% in the fourth quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after buying an additional 46 shares during the last quarter. High Point Wealth Management LLC purchased a new stake in Autodesk in the fourth quarter valued at about $44,000. Finally, iSAM Funds UK Ltd purchased a new stake in Autodesk in the third quarter valued at about $46,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on ADSK shares. Rothschild & Co Redburn decreased their price target on Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Bank of America reiterated a “buy” rating and issued a $300.00 price target on shares of Autodesk in a research note on Tuesday, May 12th. Argus upgraded Autodesk to a “strong-buy” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. raised their price objective on Autodesk from $319.00 to $336.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Arete Research reduced their price objective on Autodesk from $460.00 to $456.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $327.21.

Insider Buying and Selling

In related news, Director Stacy J. Smith bought 3,435 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, with a total value of $794,068.95. Following the completion of the acquisition, the director directly owned 26,517 shares in the company, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

Key Autodesk News

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk signed a strategic collaboration agreement with AWS to bring cloud-based products into AWS Marketplace and improve cloud solutions for customers, which could widen distribution and strengthen enterprise adoption. Autodesk signs strategic collaboration agreement with Amazon Web Services
• Positive Sentiment: Autodesk lowered the minimum buy-in for Autodesk Flex to 33 tokens for $99 from 100 tokens for $300, making it easier and cheaper for small businesses to start using its products and potentially expanding its user base. Autodesk for Small Business update: Making it more affordable to get started with Autodesk Flex

Autodesk Trading Down 1.6%

Shares of NASDAQ:ADSK opened at $229.96 on Friday. Autodesk, Inc. has a 52-week low of $214.10 and a 52-week high of $329.09. The stock has a market cap of $48.52 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 1.48 and a beta of 1.29. The company has a quick ratio of 0.85, a current ratio of 0.83 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $237.72 and a 200-day moving average price of $258.17.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (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 during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business posted $2.29 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. 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 9.35 EPS for the current year.

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.