Grassi Investment Management Lowered Its Pinnacle Foods (PF) Holding by $359,271; As Adobe Systems (ADBE) Market Value Rose, Shareholder Zevenbergen Capital Investments Decreased Stake by $2.09 Million

January 14, 2018 - By Dolores Ford

Zevenbergen Capital Investments Llc decreased its stake in Adobe Systems Incorporated (ADBE) by 4.98% based on its latest 2017Q3 regulatory filing with the SEC. Zevenbergen Capital Investments Llc sold 14,049 shares as the company’s stock rose 14.01% with the market. The institutional investor held 267,785 shares of the prepackaged software company at the end of 2017Q3, valued at $39.95 million, down from 281,834 at the end of the previous reported quarter. Zevenbergen Capital Investments Llc who had been investing in Adobe Systems Incorporated for a number of months, seems to be less bullish one the $96.15 billion market cap company. The stock increased 3.24% or $6.13 during the last trading session, reaching $195.05. About 4.25 million shares traded or 46.48% up from the average. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 42.29% since January 14, 2017 and is uptrending. It has outperformed by 25.59% the S&P500.

Grassi Investment Management decreased its stake in Pinnacle Foods (PF) by 5.26% based on its latest 2017Q3 regulatory filing with the SEC. Grassi Investment Management sold 6,303 shares as the company’s stock rose 8.46% with the market. The institutional investor held 113,517 shares of the consumer non-durables company at the end of 2017Q3, valued at $6.49M, down from 119,820 at the end of the previous reported quarter. Grassi Investment Management who had been investing in Pinnacle Foods for a number of months, seems to be less bullish one the $7.04B market cap company. The stock increased 0.24% or $0.14 during the last trading session, reaching $59.15. About 1.34M shares traded or 18.69% up from the average. Pinnacle Foods Inc. (NYSE:PF) has risen 41.67% since January 14, 2017 and is uptrending. It has outperformed by 24.97% the S&P500.

Investors sentiment increased to 1.11 in Q3 2017. Its up 0.01, from 1.1 in 2017Q2. It is positive, as 42 investors sold ADBE shares while 327 reduced holdings. 97 funds opened positions while 312 raised stakes. 414.95 million shares or 0.84% less from 418.45 million shares in 2017Q2 were reported. Cornerstone Advsr Inc has invested 0.13% in Adobe Systems Incorporated (NASDAQ:ADBE). Arrowstreet Cap Ltd Partnership invested in 2.09% or 5.24 million shares. The Oregon-based Pioneer Trust Natl Bank N A Or has invested 0.19% in Adobe Systems Incorporated (NASDAQ:ADBE). Quantbot Techs LP has invested 0.26% in Adobe Systems Incorporated (NASDAQ:ADBE). Oz Mgmt LP holds 0.02% in Adobe Systems Incorporated (NASDAQ:ADBE) or 22,964 shares. Hoplite Mgmt Lp reported 309,962 shares. Palisade Cap Management Ltd Liability Nj invested in 2,040 shares or 0.01% of the stock. Raymond James Associates, a Florida-based fund reported 230,526 shares. Nationwide Fund Advsrs accumulated 729,421 shares or 0.43% of the stock. South State reported 25,293 shares. Tpg Gp (Sbs) has invested 0.07% in Adobe Systems Incorporated (NASDAQ:ADBE). Shelton Capital Mngmt, a California-based fund reported 42,004 shares. Junto Mngmt Ltd Partnership reported 2.04% in Adobe Systems Incorporated (NASDAQ:ADBE). Gam Ag reported 75,955 shares. Aspiriant Ltd Liability holds 2,554 shares.

Among 38 analysts covering Adobe Systems (NASDAQ:ADBE), 29 have Buy rating, 0 Sell and 9 Hold. Therefore 76% are positive. Adobe Systems had 135 analyst reports since August 11, 2015 according to SRatingsIntel. The firm earned “Mkt Perform” rating on Wednesday, October 7 by FBR Capital. Canaccord Genuity maintained it with “Buy” rating and $170 target in Wednesday, September 20 report. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Outperform” rating given on Friday, October 2 by RBC Capital Markets. The firm has “Buy” rating given on Thursday, October 19 by Bank of America. The firm has “Buy” rating given on Wednesday, September 21 by Canaccord Genuity. The rating was maintained by Bernstein on Friday, March 18 with “Outperform”. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Buy” rating by Guggenheim on Wednesday, January 10. Susquehanna maintained Adobe Systems Incorporated (NASDAQ:ADBE) on Wednesday, October 7 with “Positive” rating. The company was initiated on Friday, June 24 by Cowen & Co. JP Morgan maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Friday, December 11. JP Morgan has “Overweight” rating and $100 target.

Since August 9, 2017, it had 1 insider buy, and 7 sales for $6.56 million activity. 6,800 shares were sold by WARNOCK JOHN E, worth $1.18M on Friday, October 20. 21,276 Adobe Systems Incorporated (NASDAQ:ADBE) shares with value of $3.97 million were sold by GESCHKE CHARLES M. Banse Amy bought $199,520 worth of stock. Shares for $379,784 were sold by THOMPSON MATTHEW on Monday, October 23.

Zevenbergen Capital Investments Llc, which manages about $2.92B and $2.30B US Long portfolio, upped its stake in Apple Inc. (NASDAQ:AAPL) by 2,917 shares to 19,787 shares, valued at $3.05 million in 2017Q3, according to the filing. It also increased its holding in Proofpoint Inc. (NASDAQ:PFPT) by 59,785 shares in the quarter, for a total of 597,545 shares, and has risen its stake in 2U Inc. (NASDAQ:TWOU).

Analysts await Adobe Systems Incorporated (NASDAQ:ADBE) to report earnings on March, 15. They expect $1.06 earnings per share, up 35.90% or $0.28 from last year’s $0.78 per share. ADBE’s profit will be $522.52 million for 46.00 P/E if the $1.06 EPS becomes a reality. After $1.05 actual earnings per share reported by Adobe Systems Incorporated for the previous quarter, Wall Street now forecasts 0.95% EPS growth.

Analysts await Pinnacle Foods Inc. (NYSE:PF) to report earnings on February, 22. They expect $0.94 earnings per share, up 18.99% or $0.15 from last year’s $0.79 per share. PF’s profit will be $111.88 million for 15.73 P/E if the $0.94 EPS becomes a reality. After $0.58 actual earnings per share reported by Pinnacle Foods Inc. for the previous quarter, Wall Street now forecasts 62.07% EPS growth.

Investors sentiment decreased to 0.82 in Q3 2017. Its down 0.29, from 1.11 in 2017Q2. It worsened, as 38 investors sold PF shares while 115 reduced holdings. 41 funds opened positions while 84 raised stakes. 110.51 million shares or 0.04% less from 110.55 million shares in 2017Q2 were reported. Qcm Cayman Limited reported 0.55% stake. Twin Tree Management Limited Partnership stated it has 15,838 shares. Hutchin Hill Capital Ltd Partnership reported 0.27% stake. Prudential Public Limited Company reported 0% stake. Bokf Na holds 142,839 shares. Parallax Volatility Advisers Lp owns 7,001 shares. Clinton Gp Inc holds 0.16% or 25,517 shares. California Public Employees Retirement invested 0.03% of its portfolio in Pinnacle Foods Inc. (NYSE:PF). Amalgamated National Bank owns 21,336 shares or 0.04% of their US portfolio. Millennium Mgmt Lc holds 0.28% or 3.21 million shares in its portfolio. 4,829 are held by M&T Bank. Fisher Asset Limited Liability Company invested in 0.01% or 156,476 shares. Train Babcock Limited Liability Corp has invested 2.12% of its portfolio in Pinnacle Foods Inc. (NYSE:PF). Moreover, Legal & General Group Inc Public Limited Company has 0% invested in Pinnacle Foods Inc. (NYSE:PF) for 82,648 shares. Bnp Paribas Asset Mgmt Holdings Sa, France-based fund reported 77,530 shares.

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