5 Best 3D Printing Stocks To Invest In

1. Autodesk, Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 62

Autodesk, Inc. (NASDAQ:ADSK) is a global leading provider of 3D design, engineering, and entertainment software. Its products are used by professionals in a variety of industries, including architecture, engineering, construction, manufacturing, media, and entertainment. Autodesk, Inc. (NASDAQ:ADSK) has a strong position in the market, with a large customer base and a diversified product portfolio. The company is well-positioned to continue its growth, with a strong brand, a strong financial position, and a commitment to innovation. Autodesk, Inc. (NASDAQ:ADSK) is one of the best 3D printing stocks to buy now.

This November, BofA analyst Michael Funk updated his price target on Autodesk, Inc. (NASDAQ:ADSK) to $225 from $240 and maintained a Neutral rating on the shares. On November 23, Baird analyst Joe Vruwink revised his price target on Autodesk, Inc. (NASDAQ:ADSK) to $244 from $255 and reiterated an Outperform rating on the shares.

At the close of the third quarter of 2022, 62 hedge funds were bullish on Autodesk, Inc. (NASDAQ:ADSK) and held stakes worth $2.38 billion in the company. This is compared to 53 positions in the preceding quarter with stakes worth $1.41 billion. The hedge fund sentiment for the stock is positive. As of September 30, GQG Partners is the most prominent shareholder in the company and has a position worth $539.7 million.

Here is what Arch Capital Management had to say about Autodesk, Inc. (NASDAQ:ADSK) in its third-quarter 2022 investor letter:

“Let’s look at a specific example. One of our portfolio companies is Autodesk, Inc. (NASDAQ:ADSK), a construction/engineering/architecture software business with an incredible moat. Our cost basis on the stock is $230. Shares traded as high as $340 in 2021 but today are down around $200. With this declining share price, Autodesk management has been able to take the healthy free cash flow it generates and retire some of its shares outstanding at an accelerated rate.

At the beginning of 2022, Autodesk had approximately 220 million shares outstanding. Today, that number is down to around 216 million, and we expect this number to continue to drop over the next few years as the company ramps up its free cash flow generation. This reduction in share count will juice growth in free cash flow per share, which will determine what returns we get owning Autodesk over the long haul. The lower the stock drops, the faster Autodesk’s share count drops, all else equal.”

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