Activist investor Starboard Value takes $500M stake in Autodesk - WSJ
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 16 2024
0mins
Should l Buy ADSK?
Source: SeekingAlpha
- Activist Investor Stake in Autodesk: Starboard Value has acquired a $500 million stake in Autodesk Inc., pushing for margin improvements and board changes.
- Concerns Raised by Activist: Starboard met with Autodesk to discuss operational issues, corporate governance, and mishandling of an accounting probe.
- Market Impact: Autodesk shares fell 6% after disclosing an internal accounting probe but gained 5% after confirming no restatement or adjustment.
- Criticism on Disclosure Timing: Starboard criticized Autodesk for not revealing the probe before the window for shareholder nominations closed.
- Potential Legal Action: Starboard is considering legal action to reopen the director-nomination window and delay the annual shareholder meeting.
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Analyst Views on ADSK
Wall Street analysts forecast ADSK stock price to rise
23 Analyst Rating
21 Buy
2 Hold
0 Sell
Strong Buy
Current: 251.040
Low
319.00
Averages
373.10
High
400.00
Current: 251.040
Low
319.00
Averages
373.10
High
400.00
About ADSK
Autodesk, Inc. is engaged in three-dimensional (3D) design, engineering and entertainment technology solutions, spanning architecture, engineering, construction, product design, manufacturing, media and entertainment. Its architecture, engineering, construction and operations products improve the way building, infrastructure, and industrial projects are designed, built, and operated. Its product development and manufacturing software provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, manufacturing, and production solutions. Its product offerings include AutoCAD Civil 3D, Autodesk Build, BIM Collaborate Pro, Building Connected, Revit, Tandem, AutoCAD, AutoCAD LT, Inventor, Vault, Maya, 3ds Max, Flow Production Tracking, among others. AutoCAD Civil 3D solution offers surveying, design, analysis, and documentation solution.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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