Billionaire Ray Dalio’s 5 New Stock Picks

2. Autodesk, Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 64   

Autodesk, Inc. (NASDAQ:ADSK) is placed second on our list of 10 new stocks in the portfolio of billionaire Ray Dalio. The company markets 3D design, engineering, and entertainment software and services. It is headquartered in California. Latest data shows that Bridgewater Associates owned 76,787 shares in the firm at the end of June 2021 worth $22 million. 

On September 2, investment advisory Rosenblatt maintained a Buy rating on Autodesk, Inc. (NASDAQ:ADSK) stock with a price target of $355, noting that the firm expected double-digits revenue growth over the next few years. 

At the end of the second quarter of 2021, 64 hedge funds in the database of Insider Monkey held stakes worth $3.2 billion in Autodesk, Inc. (NASDAQ:ADSK), down from 66 the preceding quarter worth $3 billion.

In its Q1 2021 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Autodesk, Inc. (NASDAQ:ADSK) was one of them. Here is what the fund said:

“Adobe and Autodesk are both prime examples of the rotation that occurred during the quarter. Both are dominant businesses in their respective markets, which are experiencing structural tailwinds. Despite each business’s position of strength, the stocks of cyclicals and businesses with higher leverage and lower profitability were more favored this past quarter. In stark contrast, Adobe and Autodesk both have low leverage, high levels of profitability, high recurring revenues that mitigate cyclicality, and are both capital-light business models—all attributes we appreciate as investors. Adobe and Autodesk were also two of the top three performers within the Portfolio during 2020.”