Cibc World Market Inc. Invests $7.74 Million in Autodesk, Inc. $ADSK

Cibc World Market Inc. acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 39,792 shares of the software company’s stock, valued at approximately $7,736,000.

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

Analyst Ratings Changes

ADSK has been the topic of several analyst reports. Zacks Research downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. KeyCorp reiterated an “overweight” rating on shares of Autodesk in a research report on Wednesday, August 19th. Bank of America reissued a “buy” rating and issued a $300.00 price objective on shares of Autodesk in a research note on Tuesday, May 12th. The Goldman Sachs Group initiated coverage on Autodesk in a research report on Tuesday, August 11th. They set a “neutral” rating and a $260.00 target price for the company. Finally, Citigroup lifted their target price on Autodesk from $252.00 to $269.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $321.65.

Autodesk Price Performance

Autodesk stock opened at $251.21 on Wednesday. Autodesk, Inc. has a 12-month low of $185.50 and a 12-month high of $329.09. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $221.83 and a 200-day moving average price of $231.76. The firm has a market capitalization of $53.01 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29.

Autodesk (NASDAQ:ADSK) last issued its quarterly 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. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm posted $2.29 EPS. The firm’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. As a group, equities research analysts forecast that Autodesk, Inc. will post 9.7 EPS for the current year.

Insiders Place Their Bets

In related news, Director Stacy J. Smith purchased 3,435 shares of Autodesk stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $231.17 per share, with a total value 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of Autodesk stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average price of $189.20 per share, with a total value of $378,400.00. Following the purchase, the director owned 4,000 shares in the company, valued at $756,800. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 7,935 shares of company stock worth $1,666,644 in the last ninety days. 0.14% of the stock is owned by company insiders.

Autodesk Company 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.