Aristotle Capital Management LLC Has Cut Adobe Sys INC (ADBE) Position by $3.24 Million as Market Valuation Rose

August 9, 2018 - By Ash Maslow

Adobe Systems Incorporated (NASDAQ:ADBE) LogoInvestors sentiment increased to 0.9 in 2018 Q1. Its up 0.01, from 0.89 in 2017Q4. It is positive, as 35 investors sold ADBE shares while 418 reduced holdings. 136 funds opened positions while 271 raised stakes. 405.65 million shares or 1.16% less from 410.42 million shares in 2017Q4 were reported. Icon Advisers has 1.7% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 103,791 shares. Ingalls And Snyder Ltd Co reported 1,114 shares stake. Dorsey And Whitney Trust Com Ltd Com invested in 0.2% or 4,920 shares. Moreover, Confluence Wealth Management Ltd Llc has 0.32% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 2,907 shares. Palisade Capital Mngmt Limited Liability Nj reported 3,700 shares. Ithaka Group Limited Liability Company owns 159,712 shares. Duquesne Family Office Ltd holds 1.46% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 122,500 shares. Washington Tru Savings Bank, a Washington-based fund reported 441 shares. Advisory Ntwk Limited Liability Com has invested 0.29% in Adobe Systems Incorporated (NASDAQ:ADBE). Pittenger Anderson Inc reported 0.03% stake. Qs Invsts Lc, a New York-based fund reported 99,952 shares. Linscomb & Williams Incorporated has 1,006 shares. Tcw Group Inc Inc Inc reported 1.30 million shares. Thrivent For Lutherans, Minnesota-based fund reported 23,314 shares. Massachusetts-based American Rech & Mgmt has invested 3.08% in Adobe Systems Incorporated (NASDAQ:ADBE).

Since March 19, 2018, it had 0 insider purchases, and 12 insider sales for $20.15 million activity. The insider WARNOCK JOHN E sold 5,000 shares worth $1.12 million. Another trade for 15,000 shares valued at $3.94M was made by Rencher Bradley on Wednesday, July 25. 10,500 shares valued at $2.73M were sold by Parasnis Abhay on Friday, July 20. On Friday, April 20 GESCHKE CHARLES M sold $3.59 million worth of Adobe Systems Incorporated (NASDAQ:ADBE) or 16,000 shares.

Aristotle Capital Management Llc decreased its stake in Adobe Sys Inc (ADBE) by 0.46% based on its latest 2018Q1 regulatory filing with the SEC. Aristotle Capital Management Llc sold 14,997 shares as the company’s stock rose 14.81% while stock markets declined. The institutional investor held 3.28M shares of the prepackaged software company at the end of 2018Q1, valued at $708.18M, down from 3.29M at the end of the previous reported quarter. Aristotle Capital Management Llc who had been investing in Adobe Sys Inc for a number of months, seems to be less bullish one the $124.87 billion market cap company. The stock increased 0.47% or $1.18 during the last trading session, reaching $255.01. About 399,770 shares traded. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 70.50% since August 9, 2017 and is uptrending. It has outperformed by 57.93% the S&P500.

Aristotle Capital Management Llc, which manages about $7.10B and $14.89B US Long portfolio, upped its stake in Capital One Finl Corp (NYSE:COF) by 176,776 shares to 3.56 million shares, valued at $341.12M in 2018Q1, according to the filing. It also increased its holding in Aes Corp (NYSE:AES) by 1.07M shares in the quarter, for a total of 18.49 million shares, and has risen its stake in Ameriprise Finl Inc (NYSE:AMP).

Analysts await Adobe Systems Incorporated (NASDAQ:ADBE) to report earnings on September, 18. They expect $1.39 EPS, up 54.44 % or $0.49 from last year’s $0.9 per share. ADBE’s profit will be $680.64 million for 45.87 P/E if the $1.39 EPS becomes a reality. After $1.38 actual EPS reported by Adobe Systems Incorporated for the previous quarter, Wall Street now forecasts 0.72 % EPS growth.

More notable recent Adobe Systems Incorporated (NASDAQ:ADBE) news were published by: Seekingalpha.com which released: “Adobe: Thesis Intact Ahead Of Q3” on July 19, 2018, also Marketwatch.com with their article: “These Big Tech stocks have taken the most brutal beatings” published on July 30, 2018, Nasdaq.com published: “After the Dip, Symantec Stock Could Have at Least 30% Upside” on August 08, 2018. More interesting news about Adobe Systems Incorporated (NASDAQ:ADBE) were released by: Seekingalpha.com and their article: “Could Apple Still Be Undervalued? (With Investing City)” published on August 08, 2018 as well as Investorplace.com‘s news article titled: “5 Top Stock Trades for Tuesday Morning” with publication date: July 30, 2018.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Coverage

Among 18 analysts covering Adobe (NASDAQ:ADBE), 13 have Buy rating, 0 Sell and 5 Hold. Therefore 72% are positive. Adobe had 26 analyst reports since March 12, 2018 according to SRatingsIntel. The rating was maintained by Barclays Capital with “Overweight” on Thursday, March 15. The rating was maintained by Canaccord Genuity on Friday, June 15 with “Buy”. JMP Securities downgraded Adobe Systems Incorporated (NASDAQ:ADBE) on Monday, March 26 to “Hold” rating. The firm has “Buy” rating given on Friday, March 16 by Canaccord Genuity. The firm has “Buy” rating by Guggenheim given on Friday, March 16. As per Friday, June 15, the company rating was maintained by Stifel Nicolaus. DZ Bank upgraded Adobe Systems Incorporated (NASDAQ:ADBE) on Tuesday, March 20 to “Buy” rating. The firm earned “Buy” rating on Friday, June 15 by Rosenblatt. The firm earned “Buy” rating on Monday, March 12 by Credit Suisse. KeyBanc Capital Markets maintained the stock with “Overweight” rating in Friday, March 16 report.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Chart

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