Will Autodesk’s Top Institutional Shareholders Sell More After Earnings?

For the year-to-date, Autodesk, Inc.’s (NASDAQ:ADSK) shares are up 3.17 percent. On Monday, the company’s rating was lowered by Argus from Buy to Hold.

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This came after the company reported its second-quarter earnings on Thursday. Net income dropped 9.3 percent to $64.6 million (28 cents per share) vs. $71.2 million (30 cents per share) from the previous year.

Revenue increased 4.1 percent to $568.7 million from previous year. Numbers fell short of analysts’ estimates of 40 cents per share on $586.2 million in revenue.

Carl Bass, Autodesk president and CEO said of the quarter, “Our own execution challenges, combined with an uneven global economy, resulted in disappointing revenue results for the quarter. Organizational changes we made within the company earlier this year slowed us down during the quarter. Despite our second quarter results, the changes better position Autodesk to meet the needs of our customers. We are focused on working through our internal challenges as rapidly as possible. Given the uneven macroeconomic environment and the company’s desire to deliver operating margin improvement, we have taken a prudent approach to spending in fiscal 2013. Our ongoing cost management measures contributed to the delivery of non-GAAP EPS within our guidance range for the second quarter.”

From the analyst downgrade and missed estimates, will Autodesk’s largest shareholders decrease their holdings? 482 institutional firms indicated owning shares of Autodesk, Inc. (NASDAQ:ADSK) in Q2 2012. These firms reported owning a total of 220.429 million shares on 06/30/2012. The shares closed at $34.99 on 06/30/2012.

Here are the ten largest positions in Autodesk, Inc. at the end of June 30th, 2012.

Price T Rowe Associates Inc /MD/ held 17,744,387 shares on 06/30/2012 worth $620,876,131. This brought the portfolio total to 0.19%.

Vanguard Group Inc held 13,191,325 shares on 06/30/2012 worth $461,564,484. This brought the portfolio total to 0.06%.

Massachusetts Financial Services Co /MA/ held 11,394,450 shares on 06/30/2012 worth $398,691,825. This brought the portfolio total to 0.38%.

Manning & Napier Advisors LLC held 11,247,844 shares on 06/30/2012 worth $393,562,080. This brought the portfolio total to 2.07%.

State Street Corp held 10,642,473 shares on 06/30/2012 worth $372,380,148. This brought the portfolio total to 0.06%.

Clearbridge Advisors LLC held 8,171,851 shares on 06/30/2012 worth $285,933,080. This brought the portfolio total to 0.57%.

Janus Capital Management LLC held 7,442,317 shares on 06/30/2012 worth $260,406,684. This brought the portfolio total to 0.29%.

FMR LLC held 6,404,750 shares on 06/30/2012 worth $224,102,213. This brought the portfolio total to 0.04%.

Capital Research Global Investors held 6,315,000 shares on 06/30/2012 worth $220,961,861. This brought the portfolio total to 0.1%.

Blackrock Institutional Trust Company N.A. held 6,133,032 shares on 06/30/2012 worth $214,594,800. This brought the portfolio total to 0.05%.

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