Harbour Capital Advisors Lowers stake in Autodesk (ADSK)

Autodesk (ADSK) : Harbour Capital Advisors reduced its stake in Autodesk by 0.82% during the most recent quarter end. The investment management company now holds a total of 18,139 shares of Autodesk which is valued at $1,327,956 after selling 150 shares in Autodesk , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.Autodesk makes up approximately 0.72% of Harbour Capital Advisors’s portfolio.

Other Hedge Funds, Including , Cullinan Associates Inc boosted its stake in ADSK in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 69,300 shares of Autodesk which is valued at $5,073,453. Autodesk makes up approx 0.44% of Cullinan Associates Inc’s portfolio.

Autodesk opened for trading at $71.32 and hit $72.53 on the upside on Tuesday, eventually ending the session at $71.42, with a gain of 0.34% or 0.24 points. The heightened volatility saw the trading volume jump to 15,57,611 shares. Company has a market cap of $15,848 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. Wedbush Initiated Autodesk on Sep 9, 2016 to “Neutral”, Price Target of the shares are set at $60.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 .

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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