Lone Pine Capital, the hedge fund managed by Stephen Mandel acquired 11,961,827 shares or 5.3% stake in Autodesk, Inc. (NASDAQ:ADSK) based on its latest 13G filing with the Securities and Exchange Commission (SEC).
Autodesk, Inc. (NASDAQ:ADSK) is a design and software company with approximately $13 billion in market capitalization. Lone Pine Capital first initiated a position in the company in 2009 and sold its entire stake in 2011
Lone Pine Capital’s current position in Autodesk, Inc. (NASDAQ:ADSK) has a market value of more than $691 million based on its closing price of $57.77 per share on Monday.
Lone Pine Capital – Autodesk to invest $100 million in 3D printing
Autodesk, Inc. (NASDAQ:ADSK) recently announced its intention to invest as much as $100 million in 3D printing companies over the next several years through its Spark Investment Fund.
The company launched Spark, an open and free software platform for 3D printing earlier this year. Spark was designed to connect digital information to 3D printers in a new way.
Autodesk, Inc. (NASDAQ:ADSK) invited the entire 3D printing community to collaborate, build and improve Spark and its associated 3D printer materials. The company also encouraged individuals and organizations to participate in Spark Investment Fund’s investment portfolio.
Samir Hanna, vice president and general manager at Autodesk, Inc. (NASDAQ:ADSK) previously stated, “The days of taking a closed, top-down approach to innovating for additive manufacturing are behind us. Numerous industries recognize the value of tapping into entrepreneurs or startups with better ideas and approaches, and 3D printing is no exception. The Spark Investment Fund will empower innovators to improve 3D printing, and to help us unlock the tremendous promise of this technology.”
Over the past 52-week range, Autodesk, Inc. (NASDAQ:ADSK) traded from $40.09 to its highest level at $58.75 per share. Year-to-date, the shares of the company gained more than 14%.
Lone Pine Capital’s other recent investments
Lone Pine Capital increased its position in Tiffany & Co. (NYSE:TIF) to more than 6.5 million shares last month. The hedge fund also increased its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) to 32.1 million shares in August.
Lone Pine Capital also boosted its stake in Spirit Airlines Incorporated (NASDAQ:SAVE) to more than 4.3 million shares in July.
Lone Pine Capital’s regulatory filing with the FCA in United Kingdom by the end of July showed that it owned a 0.5% short position in Tesco PLC (LON:TSCO), a supermarket operator. The firm profited from its short bet after the shares of Tesco plummeted 12% on September 23 due to recent accounting scandal. Over the past three months, Tesco lost more than 31% of its stock value.