Hound Partners Lowers stake in Autodesk (ADSK)

Autodesk (ADSK) : Hound Partners reduced its stake in Autodesk by 0.23% during the most recent quarter end. The investment management company now holds a total of 2,124,824 shares of Autodesk which is valued at $131,377,868 after selling 4,999 shares in Autodesk , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Autodesk makes up approximately 4.02% of Hound Partners’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan boosted its stake in ADSK in the latest quarter, The investment management firm added 170 additional shares and now holds a total of 7,090 shares of Autodesk which is valued at $438,375. Autodesk makes up approx 0.02% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Tcw Group Inc boosted its stake in ADSK in the latest quarter, The investment management firm added 550 additional shares and now holds a total of 18,050 shares of Autodesk which is valued at $1,116,032. Autodesk makes up approx 0.01% of Tcw Group Inc’s portfolio.Raymond James Financial Services Advisors boosted its stake in ADSK in the latest quarter, The investment management firm added 764 additional shares and now holds a total of 12,377 shares of Autodesk which is valued at $765,270. Autodesk makes up approx 0.01% of Raymond James Financial Services Advisors’s portfolio.Mackenzie Financial Corp boosted its stake in ADSK in the latest quarter, The investment management firm added 13,856 additional shares and now holds a total of 344,556 shares of Autodesk which is valued at $21,303,897. Autodesk makes up approx 0.12% of Mackenzie Financial Corp’s portfolio.Blackrock Investment Management reduced its stake in ADSK by selling 6,070 shares or 1.3% in the most recent quarter. The Hedge Fund company now holds 461,967 shares of ADSK which is valued at $28,563,420. Autodesk makes up approx 0.03% of Blackrock Investment Management’s portfolio.

Autodesk closed down -0.03 points or -0.04% at $67.37 with 12,99,821 shares getting traded on Thursday. Post opening the session at $67.42, the shares hit an intraday low of $66.78 and an intraday high of $67.67 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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. Rosenblatt Downgraded Autodesk on Aug 30, 2016 to ” Sell”, Price Target of the shares are set at $54.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 .

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.

Leave a Reply

Autodesk - Is it time to Sell?

Top Brokerage Firms are advising their investors on Autodesk. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.