Giovine Capital Group Lowers stake in Autodesk (ADSK)

Autodesk (ADSK) : Giovine Capital Group reduced its stake in Autodesk by 35.08% during the most recent quarter end. The investment management company now holds a total of 25,915 shares of Autodesk which is valued at $1,602,324 after selling 14,005 shares in Autodesk , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Autodesk makes up approximately 2.16% of Giovine Capital Group’s portfolio.

Other Hedge Funds, Including , Blackrock Japan Ltd reduced its stake in ADSK by selling 6,109 shares or 2.2% in the most recent quarter. The Hedge Fund company now holds 271,108 shares of ADSK which is valued at $16,762,608. Autodesk makes up approx 0.06% of Blackrock Japan Ltd’s portfolio.Global X Management Co boosted its stake in ADSK in the latest quarter, The investment management firm added 860 additional shares and now holds a total of 1,246 shares of Autodesk which is valued at $76,891. Quantitative Investment Management added ADSK to its portfolio by purchasing 13,900 company shares during the most recent quarter which is valued at $805,505. Autodesk makes up approx 0.04% of Quantitative Investment Management’s portfolio.Rothschild Investment Corp Il reduced its stake in ADSK by selling 5,684 shares or 35.66% in the most recent quarter. The Hedge Fund company now holds 10,254 shares of ADSK which is valued at $602,730. Autodesk makes up approx 0.07% of Rothschild Investment Corp Il’s portfolio.

Autodesk opened for trading at $63.34 and hit $63.84 on the upside on Friday, eventually ending the session at $63.74, with a gain of 0.38% or 0.24 points. The heightened volatility saw the trading volume jump to 13,80,800 shares. Company has a market cap of $14,320 M.

On the company’s financial health, Autodesk reported $-0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 19, 2016. Analyst had a consensus of $-0.14. The company had revenue of $511.90 million for the quarter, compared to analysts expectations of $513.00 million. The company’s revenue was down -20.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on Autodesk. Company shares were Reiterated by RBC Capital Mkts on Aug 19, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 64 from a previous price target of $60 .Company shares were Reiterated by Wedbush on May 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 57 from a previous price target of $55 .Company shares were Reiterated by Canaccord Genuity on May 20, 2016 to “Hold”, Firm has raised the Price Target to $ 60 from a previous price target of $55 .

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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