Curbstone Financial Management Corp Lowers stake in Autodesk (ADSK)

Autodesk (ADSK) : Curbstone Financial Management Corp reduced its stake in Autodesk by 9.84% during the most recent quarter end. The investment management company now holds a total of 25,200 shares of Autodesk which is valued at $1.4 Million after selling 2,750 shares in Autodesk according to a report filed by the company on Apr 5, 2016 with the SEC.Autodesk makes up approximately 0.48% of Curbstone Financial Management Corp’s portfolio.

On the company’s financial health, Autodesk reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.11. The company had revenue of $648.30 million for the quarter, compared to analysts expectations of $634.70 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Autodesk. Shares were Reiterated by Barclays on Feb 22, 2016 to “Overweight” and Lowered the Price Target to $ 65 from a previous price target of $70 .Shares were Reiterated by RBC Capital Mkts on Feb 8, 2016 to “Sector Perform” and Lowered the Price Target to $ 55 from a previous price target of $61 .Shares were Reiterated by Wedbush on Feb 5, 2016 to “Neutral” and Lowered the Price Target to $ 50 from a previous price target of $55 .

Autodesk opened for trading at $57.07 and hit $57.885 on the upside on Monday, eventually ending the session at $56.87, with a gain of 0.19% or 0.11 points. The heightened volatility saw the trading volume jump to 13,00,079 shares. Company has a market cap of $12,767 M.

Autodesk Inc. (Autodesk) is a design software and services company offering customers productive business solutions through technology products and services. The Company serves customers in the architecture engineering and construction; manufacturing and digital media consumer and entertainment industries. The Company operates in four segments: Architecture Engineering and Construction (AEC) Platform Solutions and Emerging Business (PSEB) Manufacturing (MFG) and Media and Entertainment (M&E). The PSEB AEC and MFG segments offer a range of services including consulting support and training. The M&E segment offers software products to creative professionals post-production facilities and broadcasters for a variety of applications including feature films television programs commercials music and corporate videos interactive game production Web design and interactive Web streaming.

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