From Quiver Quantitative:

Hedge funds and asset managers have been increasing their holdings in Autodesk Inc. (NASDAQ: ADSK). D.E. Shaw recently increased shares held by 73.96%, bringing their total holdings to 1,338,100 shares worth around $325.8 million at current market prices. Autodesk reported Q3 FY24 revenue of $1.4 billion, a 10% increase YoY. Management guided FY24 revenue in the range of $5.45 – $5.465 billion, implying a 9% increase YoY. CEO Andrew Anagnost highlighted the strong performance and their commitment to transformation. The company operates in a highly competitive and rapidly evolving software industry, differentiating itself through continuous investment in research and development. The business currently operates at a LTM ROE of 76.8% and a LTM ROIC of 27.3%, showcasing the business’ ability to generate returns on capital far greater than the business’ weighted average cost of capital. Since FY22, Autodesk has operated at an average ROE of 71%, showcasing strong profitability and efficiency in generating earnings from its equity investments. Analyzing Autodesk’s income statement, we can see some stellar sustained growth in revenue, gross profit, and earnings within the last decade.



Read more: The Bull Case for Autodesk Inc. (NASDAQ: ADSK)