Soroban Capital Partners Adds 7.5 Million Autodesk Inc (ADSK) Shares to Portfolio

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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.

Eric Mandelblatt Soroban Capital Partners

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

Under the Securities Exchange Act of 1934
(Amendment No. 3)
Autodesk, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
(CUSIP Number)
September 21, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[_]  Rule 13d-1(b)
[X]  Rule 13d-1(c)
[_]  Rule 13d-1(d)
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.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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