Eminence Capital Trims Autodesk Position

Ricky Sandler's hedge fund firm Eminence Capital has filed an amended 13D with the SEC regarding its stake in Autodesk (ADSK).  Per the filing, Eminence now owns 3.6% of Autodesk with 8.01 million shares.

Per the filing, Eminence sold 3.47 million shares on March 16th at $88.08.

It notes they sold "solely for portfolio management reasons.  Due to the significant price appreciation of the Shares since their original investment the Reporting Persons’ position in the Shares had significantly increased as a percentage of total assets under management. The Reporting Persons’ position in the Shares remains the largest position owned by the Reporting Persons. The Reporting Persons are pleased with the progress that has been made in both the Issuer’s business model transition and operating fundamentals and remain confident in the Issuer’s ability to continue to create value for shareholders."

We've highlighted other recent portfolio activity from Eminence Capital here.

Per Google Finance, 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. It 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 professionals, post-production facilities and broadcasters for a range of applications. Its software products enable its customers to experience their ideas before they are real by allowing them to imagine, design and create their ideas and to visualize, simulate and analyze real-world performance in the design process by creating digital prototypes."

Lone Pine Capital Starts New Autodesk Stake

Steve Mandel's hedge fund firm Lone Pine Capital has filed a 13G with the SEC regarding shares of Autodesk (ADSK).  Per the filing, Lone Pine now owns 5.3% of the company with over 11.96 million shares.

This is a newly disclosed position for the hedge fund firm and the filing was required due to activity on October 24th.  We've also posted some additional portfolio activity from Lone Pine here.

Per Google Finance, Autodesk is "a design software and service company, offering business solutions through technology products and services. The Company serves in the 3D design, architecture, engineering and construction; manufacturing; and digital media, consumer and entertainment industries. Autodesk operates in four segments: platform solutions and emerging business (PSEB); architecture, engineering and construction (AEC); manufacturing (MFG), and media and entertainment (M&E). The principal products and services of these segments include flagship products, which include AutoCAD, AutoCAD LT, AutoCAD Civil 3D, AutoCAD Mechanical, AutoCAD Map, AutoCAD Architecture, Maya and 3ds Max; Suites, which includes Autodesk Product Design Suites, Autodesk Building Design Suites, Autodesk Infrastructure Design Suites and AutoCAD Design Suites, and New and Adjacent products, which include Autodesk Creative Finishing products, Autodesk Moldflow products and Autodesk Alias Design products."