Shake-Up Alert: 40 Companies Facing Activist Pressure

Page 27 of 31

5. Starboard Value LP at Autodesk, Inc. (NASDAQ:ADSK)

Stock Return: 13.69%

S&P 500 Return: 1.78%

Investment date: 16/06/2024

Number of hedge funds holding stakes: 52

Autodesk, Inc. (NASDAQ:ADSK) is a software application company that offers 3D design, engineering, and entertainment technology solutions. The company is the subject of an activist campaign spearheaded by Starboard Value, demanding it explain what was behind an internal financial probe that sparked a federal investigation.

Having bought stakes worth $500 million in Autodesk, Inc. (NASDAQ:ADSK), the hedge fund is pushing for changes at the design software maker that should lead to a margin for improvement. Part of the changes includes the reconstruction of the board. The activist campaign comes when Autodesk, Inc. (NASDAQ:ADSK) is already up by about 7% for the year. According to Insider Monkey the hedge fund that owns stakes in the company increased to 52 in Q1 2024.

Page 27 of 31