Autodesk, Inc. (NASDAQ:ADSK): Are Hedge Funds Right About This Stock?

The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As a result, the relevancy of these public filings and their content is indisputable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards Autodesk, Inc. (NASDAQ:ADSK).

Autodesk, Inc. (NASDAQ:ADSK) has seen an increase in hedge fund sentiment recently. ADSK was in 66 hedge funds’ portfolios at the end of the third quarter of 2018. There were 60 hedge funds in our database with ADSK positions at the end of the previous quarter. Our calculations also showed that ADSK isn’t among the 30 most popular stocks among hedge funds.

Why do we pay any attention at all to hedge fund sentiment? Our research has shown that hedge funds’ large-cap stock picks indeed failed to the beat the market between 1999 and 2016. However, we were able to identify in advance a select group of hedge fund holdings that outperformed the market by 18 percentage points since May 2014 through December 3, 2018 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that’ll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 24% through December 3, 2018. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.

We’re going to take a gander at the latest hedge fund action regarding Autodesk, Inc. (NASDAQ:ADSK).

Hedge fund activity in Autodesk, Inc.

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