Convergence Investment Partners LLC Purchases New Shares in Autodesk, Inc. $ADSK

Convergence Investment Partners LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,459 shares of the software company’s stock, valued at approximately $4,950,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ADSK. Torren Management LLC purchased a new position in shares of Autodesk during the fourth quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Autodesk during the 3rd quarter worth approximately $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Autodesk in the 4th quarter valued at approximately $25,000. Archer Investment Corp increased its holdings in shares of 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 purchasing an additional 46 shares during the period. Finally, Prosperity Bancshares Inc acquired a new position in shares of Autodesk in the fourth quarter valued at approximately $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ADSK shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $330.00 price target on shares of Autodesk in a report on Monday, June 1st. Rothschild & Co Redburn dropped their price objective on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. The Goldman Sachs Group started coverage on shares of Autodesk in a research report on Tuesday. They set a “neutral” rating and a $260.00 price objective for the company. Zacks Research cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Barclays lowered their target price on shares of Autodesk from $315.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $321.07.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $251.66 on Friday. The firm has a market capitalization of $53.10 billion, a P/E ratio of 36.69, a PEG ratio of 1.58 and a beta of 1.29. Autodesk, Inc. has a one year low of $185.50 and a one year high of $329.09. The company’s fifty day moving average is $216.31 and its two-hundred day moving average is $232.28. 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 (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $2.29 EPS. The business’s revenue 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. Analysts forecast that Autodesk, Inc. will post 9.7 EPS for the current fiscal year.

Insider Buying and Selling at Autodesk

In related news, Director Stacy J. Smith purchased 3,435 shares of Autodesk stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Janesh Moorjani purchased 2,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was purchased 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 in the company, valued at approximately $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 7,935 shares of company stock valued at $1,666,644. Corporate insiders own 0.14% of the company’s stock.

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.