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Actionable news in ADSK: Autodesk, Inc.,

Here's Why Autodesk (ADSK) Stock Is Advancing Today

NEW YORK (TheStreet) -- Autodesk (ADSK - Get Report) stock is higher by 9.20% to $63.15 in midday trading on Thursday, after activist investor Sachem Head Capital Management disclosed a 5.7% stake in the design software company and noted that its shares are undervalued.

Sachem Head plans to speak with Autodesk's management about issues such as "business, management, operations (including cost structure), assets, capitalization, financial condition, strategic plans, governance and board composition," according to a regulatory filing on Wednesday, Bloomberg reports.

Autodesk CEO Carl Bass responded by claiming that activist investors focus solely on short-term returns, according to Bloomberg.

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Activist investors typically purchase upwards of 5% of a company's stock, and disclose their stake in a regulatory filing with the SEC in an effort to engage with corporate executives, Bloomberg notes.

Based in New York City, Sachem Head has more than $4 billion...


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