Clinton Group INC Has Cut Its Adobe Sys INC (ADBE) Holding by $3.84 Million

April 26, 2018 - By Henry Gaston

Adobe Systems Incorporated (NASDAQ:ADBE) LogoInvestors sentiment decreased to 0.89 in Q4 2017. Its down 0.22, from 1.11 in 2017Q3. It turned negative, as 47 investors sold ADBE shares while 389 reduced holdings. 107 funds opened positions while 280 raised stakes. 410.42 million shares or 1.09% less from 414.95 million shares in 2017Q3 were reported. 3,784 were accumulated by Waldron Limited Partnership. Duncker Streett invested in 1,000 shares. Ontario – Canada-based Agf Invests has invested 0.69% in Adobe Systems Incorporated (NASDAQ:ADBE). Oakworth Inc holds 0.01% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 214 shares. Argent Company owns 6,456 shares. Drw Secs Ltd Liability Company owns 6,912 shares. Moreover, Night Owl Capital Mngmt has 2.78% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 34,006 shares. Oxbow Ltd Co reported 1,703 shares stake. 710 are held by Cap Ltd Ltd Liability Corp. Tributary Ltd Liability Company stated it has 0.06% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Retail Bank Of The West stated it has 4,603 shares or 0.1% of all its holdings. Piedmont Inv Advsrs has invested 0.43% in Adobe Systems Incorporated (NASDAQ:ADBE). Georgia-based Earnest Prtnrs Ltd Limited Liability Company has invested 0% in Adobe Systems Incorporated (NASDAQ:ADBE). The Georgia-based Montag A And Assoc has invested 0.73% in Adobe Systems Incorporated (NASDAQ:ADBE). Dsc LP stated it has 3,371 shares or 0.34% of all its holdings.

Since December 13, 2017, it had 1 insider buy, and 16 sales for $87.08 million activity. Lewnes Ann sold $658,148 worth of stock. NARAYEN SHANTANU had sold 165,023 shares worth $32.66M. THOMPSON MATTHEW sold 50,775 shares worth $10.16M. On Wednesday, January 24 Morris Donna sold $5.81 million worth of Adobe Systems Incorporated (NASDAQ:ADBE) or 29,404 shares. $199,520 worth of Adobe Systems Incorporated (NASDAQ:ADBE) was bought by Banse Amy. Shares for $3.63M were sold by Rencher Bradley on Wednesday, January 24.

Greg Taxin decreased its stake in Adobe Sys Inc (ADBE) by 30.76% based on its latest 2017Q4 regulatory filing with the SEC. Clinton Group Inc sold 21,970 shares as the company’s stock rose 22.17% while stock markets declined. The hedge fund run by Greg Taxin held 49,445 shares of the prepackaged software company at the end of 2017Q4, valued at $8.67M, down from 71,415 at the end of the previous reported quarter. Clinton Group Inc who had been investing in Adobe Sys Inc for a number of months, seems to be less bullish one the $107.02 billion market cap company. The stock decreased 0.26% or $0.57 during the last trading session, reaching $217.32. About 2.95 million shares traded. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 66.71% since April 26, 2017 and is uptrending. It has outperformed by 55.16% the S&P500.

Clinton Group Inc, which manages about $2.04B and $1.14 billion US Long portfolio, upped its stake in Bio Rad Labs Inc (NYSE:BIO) by 36,677 shares to 46,464 shares, valued at $11.09 million in 2017Q4, according to the filing. It also increased its holding in Berry Global Group Inc (NYSE:BERY) by 54,683 shares in the quarter, for a total of 80,637 shares, and has risen its stake in Red Hat Inc (NYSE:RHT).

Analysts await Adobe Systems Incorporated (NASDAQ:ADBE) to report earnings on June, 19. They expect $1.25 earnings per share, up 54.32 % or $0.44 from last year’s $0.81 per share. ADBE’s profit will be $615.59 million for 43.46 P/E if the $1.25 EPS becomes a reality. After $1.28 actual earnings per share reported by Adobe Systems Incorporated for the previous quarter, Wall Street now forecasts -2.34 % negative EPS growth.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Coverage

Among 21 analysts covering Adobe Systems (NASDAQ:ADBE), 17 have Buy rating, 0 Sell and 4 Hold. Therefore 81% are positive. Adobe Systems has $270.0 highest and $179.0 lowest target. $239.11’s average target is 10.03% above currents $217.32 stock price. Adobe Systems had 35 analyst reports since November 9, 2017 according to SRatingsIntel. JP Morgan maintained it with “Neutral” rating and $235 target in Friday, March 16 report. The company was maintained on Friday, March 16 by Stephens. The firm has “Buy” rating given on Tuesday, January 23 by Bernstein. J.P. Morgan downgraded it to “Hold” rating and $185.0 target in Tuesday, December 12 report. The firm has “Buy” rating given on Friday, November 10 by Stifel Nicolaus. The stock has “Buy” rating by Guggenheim on Friday, March 16. The rating was maintained by RBC Capital Markets with “Buy” on Thursday, March 15. Bank of America maintained Adobe Systems Incorporated (NASDAQ:ADBE) on Tuesday, March 13 with “Buy” rating. The firm earned “Buy” rating on Tuesday, March 20 by DZ Bank. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Outperform” rating by BMO Capital Markets on Friday, March 16.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Chart

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