The Vanguard Group, Inc. recently announced the acquisition of new stake in Autodesk Inc. (NASDAQ:ADSK). The institutional investor has increased its shareholding in the Technology company by 0.86% to 17.43 million shares with purchase of 0.15 million shares. This fresh investment now brings its stake to 8.12% valued currently at $3.4 billion. In addition, Ninety One UK Ltd. raised its holdings by 77844.0 to 4.41 million shares. And Geode Capital Management LLC has lifted its position by 1.88% or 72350.0 shares – to 3.93 million shares.
With over 1.7 million Autodesk Inc. (ADSK) shares trading Tuesday and a closing price of $196.64 on the day, the dollar volume was approximately $333.55 million. The shares have shown a negative half year performance of -6.53% and its price on 05/23/23 lost nearly -3.37%. Currently, there are 214.15M common shares owned by the public and among those 213.54M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 28 analysts who have offered their price forecasts for ADSK have a consensus price objective of $229.65. The analysts have set the share’s price value over the next 12 months at a high of $265.00 and a low of $175.00. The average price target is 15.56% above its recent price level and a downside to the estimated low will see the stock lose -12.37% over that period. But an upside of 25.8% will see the stock hit the forecast high price target while median target price for the stock is $235.00.
Insiders at the company have transacted a total of 88 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 191,931 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 134,459 shares.
The top 3 mutual fund holders in Autodesk Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 6.68 million shares of the company’s stock, all valued at over $1.3 billion. The company bought an additional 36862.0 shares recently to bring their total holdings to about 3.11% of the shares outstanding. Vanguard 500 Index Fund bought 22440.0 shares to see its total holdings expand to 5.04 million shares valued at over $981.22 million and representing 2.35% of the shares outstanding. Invesco QQQ Trust bought 5544.0 shares to bring its total holdings to over 2.86 million shares at a value of $557.24 million. Invesco QQQ Trust now owns shares totaling to 1.33% of the shares outstanding.
Shares of Autodesk Inc. (NASDAQ: ADSK) opened at $199.27, down -$4.22 from a prior closing price of $203.49. However, the script later moved the day high at 201.83, down -3.37%. The company’s stock has a 5-day price change of 1.75% and -9.26% over the past three months. ADSK shares are trading 5.23% year to date (YTD), with the 12-month market performance up to 2.73% higher. It has a 12-month low price of $163.20 and touched a high of $235.01 over the same period. ADSK has an average intraday trading volume of 1.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.79%, -0.37%, and -3.13% respectively.
Institutional ownership of Autodesk Inc. (NASDAQ: ADSK) shares accounts for 95.00% of the company’s 214.15M shares outstanding. Mutual fund holders own 53.34%, while other institutional holders and individual stakeholders account for 7.29% and 38.75% respectively.
It has a market capitalization of $42.94B and a beta (3y monthly) value of 1.52. The stock’s trailing 12-month PE ratio is 52.08, while the earnings-per-share (ttm) stands at $3.78. The company has a PEG of 3.30 and a Quick Ratio of 0.80 with the debt-to-equity ratio at 1.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.78% over the week and 2.36% over the month.
Analysts forecast that Autodesk Inc. (ADSK) will achieve an EPS of $1.55 for the current quarter, $1.77 for the next quarter and $8.34 for 2025. The lowest estimate earnings-per-share for the quarter is $1.5 while analysts give the company a high EPS estimate of $1.68. Comparatively, EPS for the current quarter was $1.43 a year ago. Earnings per share for the fiscal year are expected to increase by 68.60%, and 15.53% over the next financial year. EPS should shrink at an annualized rate of 15.79% over the next five years, compared to 48.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 28 brokerage firm advisors rate Autodesk Inc. (ADSK) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 8 of the 28 advise that investors “hold,” and 2 rated it as a “Sell.”
