Darsana Capital Partners Lp decreased its stake in Adobe Sys Inc (ADBE) by 33.33% based on its latest 2016Q3 regulatory filing with the SEC. Darsana Capital Partners Lp sold 500,000 shares as the company’s stock rose 13.87% with the market. The institutional investor held 1.00M shares of the prepackaged software company at the end of 2016Q3, valued at $108.54M, down from 1.50M at the end of the previous reported quarter. Darsana Capital Partners Lp who had been investing in Adobe Sys Inc for a number of months, seems to be less bullish one the $54.01 billion market cap company. The stock is up 0.62% or $0.67 hitting $108.93, despite the negative news. About 1.22M shares traded hands. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 9.89% since June 7, 2016 and is uptrending. It has outperformed by 2.46% the S&P500.
Darsana Capital Partners Lp is a New York-based institutional investor with more than $989.03 million AUM in August, 2014. Taken from Darsana Capital Partners latest Adv, the fund reported to have 12 full and part-time employees. Among which 8 performing investment advisory and research functions. The institutional investor had between 1-10 clients.
Insitutional Activity: The institutional sentiment increased to 1.15 in 2016 Q3. Its up 0.15, from 1 in 2016Q2. The ratio increased, as 46 funds sold all ADBE shares owned while 275 reduced positions. 100 funds bought stakes while 269 increased positions. They now own 419.85 million shares or 0.48% less from 421.89 million shares in 2016Q2. Chemung Canal Trust holds 1.68% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 65,201 shares. Cape Cod Five Cents Bancshares accumulated 1.17% or 59,003 shares. Andra Ap accumulated 0.2% or 67,600 shares. Nippon Life Americas holds 1.84% or 180,240 shares in its portfolio. Peak6 Invests LP owns 47,313 shares or 0.04% of their US portfolio. Whittier Tru Of Nevada, a Nevada-based fund reported 5,542 shares. Hartford Investment Mngmt holds 0.3% or 137,061 shares in its portfolio. Solaris Asset Mgmt Lc holds 36,250 shares or 2.48% of its portfolio. Forbes J M & Com Llp has 3.05% invested in the company for 102,815 shares. Mizuho Asset Management Coltd accumulated 0.12% or 4,918 shares. Savings Bank Of Hawaii holds 0.04% or 3,610 shares in its portfolio. Bluemountain Capital Management Limited Liability Company holds 12,952 shares or 0.03% of its portfolio. Portolan Capital Management Ltd Com, a Massachusetts-based fund reported 22,953 shares. Ibm Retirement Fund holds 0.25% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 45,999 shares. The United Kingdom-based Marshall Wace Llp has invested 0.28% in Adobe Systems Incorporated (NASDAQ:ADBE).
Insider Transactions: Since July 20, 2016, the stock had 0 insider buys, and 17 sales for $19.13 million net activity. $1.00 million worth of Adobe Systems Incorporated (NASDAQ:ADBE) was sold by Morris Donna. On Friday, August 26 the insider Lewnes Ann sold $13,320. 6,000 shares were sold by WARNOCK JOHN E, worth $632,472. 1,348 shares were sold by ROWLEY RICHARD, worth $145,760 on Friday, January 6. GESCHKE CHARLES M sold $2.51M worth of stock. 6,276 shares were sold by DALEY JAMES E, worth $677,808 on Thursday, September 22. ROSENSWEIG DANIEL sold 13,000 shares worth $1.40M.
More recent Adobe Systems Incorporated (NASDAQ:ADBE) news were published by: Investorplace.com which released: “Adobe Systems Incorporated (ADBE) Shrugs Off a Q4 Earnings Beat” on December 15, 2016. Also Investorplace.com published the news titled: “Adobe Systems Incorporated (ADBE) Stock’s Cloud Payoff is Already Here” on December 14, 2016. Equitiesfocus.com‘s news article titled: “Adobe Systems Incorporated (NASDAQ:ADBE) 200-day MA At $102.58” with publication date: January 06, 2017 was also an interesting one.
According to Zacks Investment Research, “Adobe Systems Incorporated is a provider of graphic design, publishing, and imaging software for Web and print production. It offers a market-leading line of application software products for creating, distributing, and managing information of all types. The company license its industry-standard technologies to major hardware manufacturers, software developers, and service providers, and offer integrated software solutions to businesses of all sizes.”
Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Coverage
Out of 32 analysts covering Adobe Systems (NASDAQ:ADBE), 25 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 78% are positive. Adobe Systems has been the topic of 63 analyst reports since August 11, 2015 according to StockzIntelligence Inc. As per Wednesday, June 22, the company rating was maintained by UBS. As per Wednesday, September 21, the company rating was maintained by Canaccord Genuity. The firm has “Neutral” rating by Credit Suisse given on Friday, March 18. On Thursday, April 21 the stock rating was reinitiated by Credit Suisse with “Neutral”. On Friday, September 18 the stock rating was maintained by Jefferies with “Buy”. Wunderlich maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Thursday, November 3. Wunderlich has “Hold” rating and $115 price target. The firm has “Outperform” rating given on Thursday, January 5 by BMO Capital Markets. The stock has “Strong-Buy” rating given by Vetr on Wednesday, September 2. Goldman Sachs maintained it with “Neutral” rating and $92 target price in Wednesday, March 9 report. The rating was initiated by Cowen & Co with “Outperform” on Friday, June 24.
ADBE Company Profile
Adobe Systems Incorporated, incorporated on May 9, 1997, is a software company. The Firm offers a line of services and products used by professionals, marketers, knowledge workers, application developers, enterprises and clients for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences across multiple operating systems, devices and media. The Firm operates through three divisions: Digital Media, Digital Marketing, and Print and Publishing. The Firm markets and licenses its services and products directly to enterprise clients through its sales force and to end users through application stores and its own Website at www.adobe.com. It offers various products through a software-as-a-service (SaaS) model or a managed services model (both of which are referred to as a hosted or cloud model), as well as through term subscription and pay-per-use models.
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