Lorem Ipsum Management Lowers stake in Autodesk (ADSK)

Autodesk (ADSK) : Lorem Ipsum Management reduced its stake in Autodesk by 81.82% during the most recent quarter end. The investment management company now holds a total of 20,000 shares of Autodesk which is valued at $1,444,200 after selling 90,000 shares in Autodesk , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Autodesk makes up approximately 5.70% of Lorem Ipsum Management’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund reduced its stake in ADSK by selling 6,988 shares or 23.31% in the most recent quarter. The Hedge Fund company now holds 22,995 shares of ADSK which is valued at $1,660,469. Autodesk makes up approx 0.04% of Oregon Public Employees Retirement Fund’s portfolio.Advisory Services Network boosted its stake in ADSK in the latest quarter, The investment management firm added 3,933 additional shares and now holds a total of 4,336 shares of Autodesk which is valued at $312,235. Autodesk makes up approx 0.06% of Advisory Services Network’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in ADSK by selling 8,277 shares or 14.24% in the most recent quarter. The Hedge Fund company now holds 49,858 shares of ADSK which is valued at $3,590,275. Autodesk makes up approx 0.08% of Exxonmobil Investment Management Inc Tx’s portfolio. Simplex Trading added ADSK to its portfolio by purchasing 38,506 company shares during the most recent quarter which is valued at $2,772,817. Autodesk makes up approx 0.36% of Simplex Trading’s portfolio.Harbour Capital Advisors reduced its stake in ADSK by selling 150 shares or 0.82% in the most recent quarter. The Hedge Fund company now holds 18,139 shares of ADSK which is valued at $1,327,956. Autodesk makes up approx 0.72% of Harbour Capital Advisors’s portfolio.

Autodesk closed down -2.04 points or -2.83% at $70.17 with 17,04,090 shares getting traded on Tuesday. Post opening the session at $72.31, the shares hit an intraday low of $69.86 and an intraday high of $72.77 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. 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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