Sone Capital Management LLC Takes $9.23 Million Position in Autodesk, Inc. $ADSK

Sone Capital Management LLC acquired a new position in Autodesk, Inc. (NASDAQ:ADSK) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 47,487 shares of the software company’s stock, valued at approximately $9,232,000.

Several other institutional investors have also recently made changes to their positions in ADSK. L2 Asset Management LLC bought a new stake in Autodesk during the 2nd quarter valued at approximately $240,000. Infrastructure Capital Advisors LLC bought a new position in Autodesk in the 2nd quarter worth approximately $294,000. Cibc World Market Inc. purchased a new stake in Autodesk during the 2nd quarter valued at approximately $7,736,000. OMERS ADMINISTRATION Corp purchased a new stake in Autodesk during the 2nd quarter valued at approximately $6,379,000. Finally, Conquis Financial LLC bought a new stake in shares of Autodesk during the second quarter valued at approximately $301,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the subject of a number of research reports. UBS Group restated a “buy” rating on shares of Autodesk in a research report on Friday, May 29th. BTIG Research reiterated a “buy” rating and issued a $300.00 price target on shares of Autodesk in a report on Friday, May 29th. 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 research note on Tuesday, May 26th. Guggenheim raised their price objective on Autodesk from $245.00 to $277.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Rothschild & Co Redburn reduced their target price on Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $321.65.

Insider Activity

In related news, EVP Janesh Moorjani purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the acquisition, the executive vice president owned 50,993 shares of the company’s stock, valued at approximately $10,079,786.31. This represents a 5.16% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average cost of $189.20 per share, with a total value of $378,400.00. Following the completion of the purchase, the director directly owned 4,000 shares of the company’s stock, valued at $756,800. This trade represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 7,935 shares of company stock valued at $1,666,644. 0.14% of the stock is currently owned by insiders.

Autodesk Price Performance

ADSK stock opened at $254.42 on Tuesday. Autodesk, Inc. has a 52 week low of $185.50 and a 52 week high of $329.09. The firm has a market capitalization of $53.68 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 1.55 and a beta of 1.29. The company has a fifty day simple moving average of $220.83 and a two-hundred day simple moving average of $231.70. 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 posted its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $2.29 EPS. The business’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. Analysts anticipate that Autodesk, Inc. will post 9.7 earnings per share for the current fiscal 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.