Is Autodesk, Inc. (ADSK) A Good Stock To Buy?

As industrywide interest jumped, key money managers have jumped into Autodesk, Inc. (NASDAQ:ADSK) headfirst. Citadel Investment Group, managed by Ken Griffin, initiated the most valuable call position in Autodesk, Inc. (NASDAQ:ADSK) amassing $21.6 million worth of options by the end of the quarter. The other funds with brand new ADSK positions are David Costen Haley’s HBK Investments, George Hall’s Clinton Group, and Sheetal Duggal’s Thrax Management.

Let’s check out hedge fund activity in other stocks similar to Autodesk, Inc. (NASDAQ:ADSK). These stocks are Host Hotels and Resorts Inc (NYSE:HST), Skyworks Solutions Inc (NASDAQ:SWKS), Vodafone Group Plc (ADR) (NASDAQ:VOD), and Cabot Oil & Gas Corporation (NYSE:COG). This group of stocks’ market valuations are closest to ADSK’s market valuation.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $732 million. That figure was $4.56 billion in the case of Autodesk. Cabot Oil & Gas Corporation (NYSE:COG) is the most popular stock in this table. On the other hand Host Hotels and Resorts Inc (NYSE:HST) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks Autodesk, Inc. (NASDAQ:ADSK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.