Adobe Systems Incorporated (NASDAQ:ADBE) was in 35 hedge funds’ portfolio at the end of the fourth quarter of 2012. ADBE investors should pay attention to a decrease in support from the world’s most elite money managers in recent months. There were 36 hedge funds in our database with ADBE positions at the end of the previous quarter.
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Keeping this in mind, we’re going to take a glance at the recent action encompassing Adobe Systems Incorporated (NASDAQ:ADBE).
Hedge fund activity in Adobe Systems Incorporated (NASDAQ:ADBE)
In preparation for this year, a total of 35 of the hedge funds we track held long positions in this stock, a change of -3% from one quarter earlier. With hedgies’ sentiment swirling, there exists a few key hedge fund managers who were upping their stakes considerably.
When looking at the hedgies we track, ValueAct Capital, managed by Jeffrey Ubben, holds the most valuable position in Adobe Systems Incorporated (NASDAQ:ADBE). ValueAct Capital has a $1.18 billion position in the stock, comprising 15% of its 13F portfolio. On ValueAct Capital’s heels is Luxor Capital Group, managed by Christian Leone, which held a $139 million position; 4.9% of its 13F portfolio is allocated to the stock. Remaining hedgies that hold long positions include Christopher Lord’s Criterion Capital, Glenn Greenberg’s Brave Warrior Capital and D. E. Shaw’s D E Shaw.
Judging by the fact that Adobe Systems Incorporated (NASDAQ:ADBE) has witnessed bearish sentiment from the smart money, it’s easy to see that there were a few funds who sold off their positions entirely heading into 2013. It’s worth mentioning that Michael Platt and William Reeves’s BlueCrest Capital Mgmt. said goodbye to the largest investment of all the hedgies we track, worth close to $13 million in call options, and Glenn J. Krevlin of Glenhill Advisors was right behind this move, as the fund said goodbye to about $11 million worth. These moves are important to note, as total hedge fund interest dropped by 1 funds heading into 2013.
What have insiders been doing with Adobe Systems Incorporated (NASDAQ:ADBE)?
Insider purchases made by high-level executives is best served when the company in focus has experienced transactions within the past 180 days. Over the last half-year time frame, Adobe Systems Incorporated (NASDAQ:ADBE) has seen 1 unique insiders purchasing, and 10 insider sales (see the details of insider trades here).
With the results demonstrated by the aforementioned research, retail investors should always keep an eye on hedge fund and insider trading activity, and Adobe Systems Incorporated (NASDAQ:ADBE) is no exception.
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