Mitchell Capital Management Co Cut Adobe Systems INC (ADBE) Holding as Shares Rose

April 22, 2018 - By Peter Erickson

Adobe Systems Incorporated (NASDAQ:ADBE) LogoInvestors sentiment decreased to 0.89 in Q4 2017. Its down 0.22, from 1.11 in 2017Q3. It is 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. Fjarde Ap reported 140,053 shares. Brown Advisory holds 1.61% or 2.90 million shares in its portfolio. Stephens Investment Gp Llc invested 0% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Mason Street Advsr Limited Co has 68,663 shares for 0.28% of their portfolio. Jefferies Group Ltd invested in 0.03% or 34,652 shares. Neuberger Berman Grp Ltd Llc has invested 0.05% in Adobe Systems Incorporated (NASDAQ:ADBE). Coldstream Cap Mgmt Inc holds 0.04% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 2,151 shares. De Burlo Gp reported 61,600 shares. Lpl Limited Liability Corporation invested in 93,910 shares or 0.05% of the stock. Arete Wealth Lc accumulated 1,204 shares. Pitcairn Comm holds 0.6% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 34,425 shares. Country Tru Comml Bank has invested 0% in Adobe Systems Incorporated (NASDAQ:ADBE). World Asset Mgmt Inc accumulated 0.26% or 44,120 shares. Tocqueville Asset Mngmt LP reported 0.18% stake. Savant Cap Lc invested in 2,940 shares or 0.11% of the stock.

Since October 23, 2017, it had 1 insider buy, and 15 insider sales for $83.49 million activity. Lewnes Ann also sold $338,846 worth of Adobe Systems Incorporated (NASDAQ:ADBE) shares. $10.16 million worth of Adobe Systems Incorporated (NASDAQ:ADBE) was sold by THOMPSON MATTHEW on Friday, January 26. 18,410 shares were sold by Rencher Bradley, worth $3.63M on Wednesday, January 24. LAMKIN BRYAN also sold $5.97M worth of Adobe Systems Incorporated (NASDAQ:ADBE) on Wednesday, January 31. 54,488 shares were sold by GARRETT MARK, worth $10.21 million. DILLON MICHAEL A sold 6,376 shares worth $1.26 million.

Mitchell Capital Management Co decreased its stake in Adobe Systems Inc (ADBE) by 34.06% based on its latest 2017Q4 regulatory filing with the SEC. Mitchell Capital Management Co sold 17,929 shares as the company’s stock rose 22.17% while stock markets declined. The institutional investor held 34,704 shares of the prepackaged software company at the end of 2017Q4, valued at $6.08M, down from 52,633 at the end of the previous reported quarter. Mitchell Capital Management Co who had been investing in Adobe Systems Inc for a number of months, seems to be less bullish one the $110.92 billion market cap company. The stock decreased 1.05% or $2.38 during the last trading session, reaching $225.24. About 2.09M shares traded. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 66.71% since April 22, 2017 and is uptrending. It has outperformed by 55.16% the S&P500.

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 $615.59M for 45.05 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 22 analysts covering Adobe Systems (NASDAQ:ADBE), 18 have Buy rating, 0 Sell and 4 Hold. Therefore 82% are positive. Adobe Systems had 36 analyst reports since October 25, 2017 according to SRatingsIntel. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Buy” rating by Credit Suisse on Tuesday, January 23. Robert W. Baird maintained the shares of ADBE in report on Thursday, March 15 with “Buy” rating. On Monday, March 26 the stock rating was downgraded by JMP Securities to “Hold”. Stephens maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Friday, March 16. Stephens has “Buy” rating and $270.0 target. The rating was maintained by Bernstein with “Buy” on Tuesday, January 23. On Friday, March 16 the stock rating was maintained by Morgan Stanley with “Equal-Weight”. The firm has “Buy” rating given on Wednesday, October 25 by Argus Research. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Buy” rating by Stifel Nicolaus on Monday, March 12. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Buy” rating given on Thursday, December 14 by Canaccord Genuity. DZ Bank upgraded the stock to “Buy” rating in Tuesday, March 20 report.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Chart

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