Primecap Management Co. CA Invests $116.67 Million in Autodesk, Inc. $ADSK

Primecap Management Co. CA bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 600,100 shares of the software company’s stock, valued at approximately $116,671,000.

A number of other hedge funds have also added to or reduced their stakes in ADSK. BlackRock Inc. acquired a new position in shares of Autodesk during the 2nd quarter worth about $4,828,855,000. Norges Bank acquired a new stake in shares of Autodesk in the fourth quarter valued at about $867,480,000. Northwestern Mutual Wealth Management Co. raised its holdings in 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 in the last quarter. Legal & General Group Plc bought a new stake in Autodesk during the second quarter worth about $422,928,000. Finally, Deutsche Bank AG acquired a new position in Autodesk during the second quarter valued at approximately $322,851,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $251.21 on Wednesday. The stock has a 50 day simple moving average of $221.83 and a 200 day simple moving average of $231.76. The stock has a market cap of $53.01 billion, a P/E ratio of 36.62, a PEG ratio of 1.56 and a beta of 1.29. Autodesk, Inc. has a 1-year low of $185.50 and a 1-year 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.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 EPS for the quarter, beating analysts’ consensus estimates 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%.The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Research analysts anticipate that Autodesk, Inc. will post 9.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADSK shares. Rothschild & Co Redburn lowered their price target on Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. BTIG Research reissued a “buy” rating and issued a $300.00 price objective on shares of Autodesk in a report on Friday, May 29th. Citigroup raised their target price on shares of Autodesk from $252.00 to $269.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. New Street Research set a $277.00 target price on shares of Autodesk in a report on Thursday, August 20th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Autodesk in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.65.

Insider Activity

In other Autodesk news, Director Stacy J. Smith purchased 3,435 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the purchase, the director 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director owned 4,000 shares of the company’s stock, valued at $756,800. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 7,935 shares of company stock valued at $1,666,644. 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.