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 $1,236,600 after selling 90,000 shares in Autodesk , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Autodesk makes up approximately 4.95% of Lorem Ipsum Management’s portfolio.

Other Hedge Funds, Including , Neuberger Berman Group reduced its stake in ADSK by selling 15,385 shares or 12.04% in the most recent quarter. The Hedge Fund company now holds 112,401 shares of ADSK which is valued at $6,668,751. Autodesk makes up approx 0.01% of Neuberger Berman Group’s portfolio.Td Asset Management Inc boosted its stake in ADSK in the latest quarter, The investment management firm added 2,130 additional shares and now holds a total of 103,231 shares of Autodesk which is valued at $6,124,695. Autodesk makes up approx 0.01% of Td Asset Management Inc’s portfolio.Pacific Heights Asset Management reduced its stake in ADSK by selling 1,000 shares or 0.63% in the most recent quarter. The Hedge Fund company now holds 159,000 shares of ADSK which is valued at $9,479,580. Autodesk makes up approx 0.83% of Pacific Heights Asset Management’s portfolio. Davenport Co sold out all of its stake in ADSK during the most recent quarter. The investment firm sold 3,655 shares of ADSK which is valued $207,860.

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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