10 Best 3D Printing and Additive Manufacturing Stocks To Buy

2. Autodesk, Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 52

Autodesk, Inc. (NASDAQ:ADSK) is an application software company based in San Francisco, California. In the first quarter, the company reported revenues of $1.42 billion, representing an increase of 12% year-over-year. The company’s adjusted EPS came in at $1.87, also representing an increase of 20.6% year-over-year.

The company is a good stock to buy in the 3D printing space considering the fact that it is focusing on investing in AI tech such as Bernini, through which Autodesk, Inc. (NASDAQ:ADSK) aims at automating 3D design tasks while also enhancing its product offerings. The company’s net income has also increased by 57% in the first quarter, which was primarily driven by its robust segment performance and high recurring revenue.

In total, 52 hedge funds were long Autodesk, Inc. (NASDAQ:ADSK) in the first quarter, with a total stake value of $1.9 billion.

Polen Capital said the following about Autodesk, Inc. (NASDAQ:ADSK) in its second-quarter 2024 investor letter:

“Autodesk, Inc. (NASDAQ:ADSK) and Accenture were also notable absolute detractors in the quarter. With Autodesk, most of the stock’s price weakness came in April. The company announced that it would delay the release of its earnings and 10-K filing as it launches an internal investigation regarding its practices on some non-GAAP financial metrics. Upon further analysis, we were encouraged to hear that they were taking this very seriously and being very comprehensive in their investigation. Ultimately, Accenture announced it was closing the investigation and that no re-statements would be required. As discussed in the following section, we chose to exit the position in favor of a more attractive investment.

We sold our small position in Autodesk to help fund our purchase of Shopify. We still think Autodesk is an advantaged business, with 95%+ recurring revenue, dominant in its end market, and nice tailwinds behind digitization in that end market. It should be a durable grower over time, perhaps with continued fits and starts, but we found the risk-reward around Shopify to be more compelling.”