Plymouth Lane Capital Management adds Autodesk (ADSK) to its portfolio

Non-GAAP diluted net income per share was $0.05, contrast to non-GAAP diluted net income per share of $0.19 in the second quarter a year ago. Stock’s minimum price target estimates has been figured out at $45.00 while the maximum price target forecast is established at $82.00. Canaccord Genuity’s target price would suggest a potential upside of 2.04% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Robert W. Baird reissued a “buy” rating on shares of Autodesk in a report on Sunday, May 22nd.

Revenue was $551 million, a decrease of 10 percent compared to the second quarter a year ago as reported, and 6 percent on a constant currency basis. Excluding stock-based compensation and other items, Autodesk reported a profit of 5 cents a share, down from 19 cents a share a year earlier. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Autodesk in a report on Sunday, May 22nd. (NASDAQ:ADSK) has a target of $81, while the most conservative price target sees the stock reaching $42. For the stock, price target value has been calculated at $64.00 based on calls of 17 experts. The investment firm sold 5,100 shares of ADSK which is valued $302,583.Tokio Marine Asset Management Co Ltd reduced its stake in ADSK by selling 391 shares or 4.79% in the most recent quarter.

Autodesk also noted that its total subscriptions for the second quarter of fiscal 2017 were up by 109,000 when compared to the first quarter of fiscal 2017. IFP Advisors Inc now owns 1,715 shares of the software company’s stock valued at $100,000 after buying an additional 230 shares during the period. Creative Planning increased its position in Autodesk by 12.4% in the second quarter. Following the transaction, the chief executive officer now owns 195,240 shares in the company, valued at $11,402,016.

The shares whose average daily volume is 1.4mln had more than double that this session. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The price estimate shows the average recommendations of a total of 11 analysts provided in the last six months. The disclosure for this sale can be found here.

For the current quarter, Autodesk projects an adjusted loss of 22 cents to 27 cents a share on $470 million to $485 million in revenue, compared with analysts’ projection of a loss of 28 cents a share on $468.5 million in revenue, according to Thomson Reuters. 2,080,396 shares of the company traded hands. During Autodesk’s business model transition, revenue is negatively impacted as more revenue is recognized ratably rather than up front and as new offerings generally have a lower initial purchase price. Autodesk Inc. has logged a 50-day average of $59.62 and two hundred day average of $56.93. Autodesk was one of the companies hit hard by market volatility following the U.K.’s June referendum on whether to leave the European Union.

The company’s software is used by customers such as construction, engineering and manufacturing companies to design products and simulate the real-world performance of those products.