A new 13G filing with the Securities and Exchange Commission revealed that Eric W. Mandelblatt‘s Soroban Capital Partners has raised its stake in Autodesk Inc (NASDAQ:ADSK) to 17.84 million common shares, which account for 8.0% of the company’s float. Previously, Soroban Capital Partners’ stake in the company consisted of 10.34 million shares, as per its 13F filing for the June 30 reporting period.
Autodesk Inc (NASDAQ:ADSK) is a company that develops software for various industries, such as manufacturing, architecture, media, and engineering. Since the beginning of the year, the company’s stock has gained 16.82%. In its financial report for the second quarter of 2016, Autodesk reported earnings per share of $0.05 and revenue of $550.7 million, with both figures topping analysts’ estimates of a loss per share of $0.13 and revenue of $512.07 million. Recently, Evercore ISI initiated coverage on Autodesk’s stock and placed a ‘Buy’ rating on it, with a price target of $80, while Wedbush also initiated coverage recently, but with a ‘Neutral’ rating and price target of $60.
Out of the 749 hedge funds tracked by Insider Monkey which filed 13Fs for the June quarter, 35 reported holding long positions in Autodesk (NASDAQ:ADSK) as of the end of June, down by two from the end of March. Some of the bullish investors contained Scott Ferguson’s Sachem Head Capital, which held a position valued at $697.87 million, John Griffin’s Blue Ridge Capital, with a position worth $542.15 million, Mick Hellman’s HMI Capital, Benjamin A. Smith’s Laurion Capital Management, and Clint Carlson’s Carlson Capital.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Soroban Master Fund | 0 | 11,193,847 | 0 | 11,193,847 | 11,193,847 | 5.0% |
| Soroban Capital GP | 0 | 17,835,141 | 0 | 17,835,141 | 17,835,141 | 8.0% |
| Soroban Capital Partners | 0 | 17,835,141 | 0 | 17,835,141 | 17,835,141 | 8.0% |
| Soroban Capital Partners GP | 0 | 17,835,141 | 0 | 17,835,141 | 17,835,141 | 8.0% |
| Eric W. Mandelblatt | 0 | 17,835,141 | 0 | 17,835,141 | 17,835,141 | 8.0% |
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Page 1 of 12 – SEC Filing
| Autodesk, Inc. |
| (Name of Issuer) |
| Common Stock |
| (Title of Class of Securities) |
| 052769106 |
| (CUSIP Number) |
| September 21, 2016 |
| (Date of Event Which Requires Filing of this Statement) |
| * | The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
