Jeff Smith’s Top 10 Activist Targets and Their Returns Compared to the S&P 500

6. Autodesk, Inc. (NASDAQ:ADSK)

Position Initiated: June 2024

Value of the Stake: $500 Million

Stock Return Since June 2024 to April 2025: 17.40%

S&P 500 Return Since  June 2024 to April 2025: -1.21%

Number of hedge funds holding stakes: 74

Autodesk, Inc. (NASDAQ:ADSK) is a technology company that provides 3D design, engineering, and entertainment technology solutions. It offers AutoCAD Civil 3D, a surveying, design and analysis software. In June of 2024, reports emerged that Starboard Value LP had bought about a $500 million stake in the company and was pushing for changes.

The activist investor reiterated there is something the company could do to improve its margins and make changes to the board. The pressure mounted as Starboard Value LP accused Autodesk of failing to disclose investigations in private conversation. Autodesk, Inc. (NASDAQ:ADSK) was the subject of an internal financial probe that sparked federal investigations that revealed misrepresentations of key financial metrics.

Meanwhile, the activist hedge fund intends to nominate a minority slate of directors to the board to try and turn around the company’s fortune. The hedge fund insists Autodesk, Inc. (NASDAQ:ADSK) has underperformed the broader markets in recent years. The push comes on Autodesk embarking on a restructuring drive that entails slashing 9% of the workforce as it tries to bolster its profit margins.