Hedge Funds Make Big After Adobe Rises 6.84%

Adobe Systems Incorporated (ADBE) rises 6.84% on Friday at 11:57AM EST after the company reported its fourth quarter earnings. The software designer disclosed adjusted earnings of $0.67 per share and revenue growth of 14% to $1.15 billion. According to Forbes, “Adobe expects adjusted earnings per share of $0.54 to $0.59, on revenue of $1.03 billion to $1.08 billion. Both ranges are ahead of analyst expectations at the high end.”

VALUEACT CAPITAL

Adobe closed at $26.46 on Thursday, and is now trading at $28.27, corresponding to a 6.84% or $1.81 increase. Here is a list of hedge funds that may reveal large gains due to the price surge.

1. ValueAct Capital - Jeffrey Ubben: gains $30.25 million 2. Legg Mason Capital Management - Bill Miller: gains $6.18 million 3. Pennant Capital Management - Alan Fournier: gains $6.13 million 4. Renaissance Technologies - Jim Simons: gains $2.85 million 5. Adage Capital Management - Phill Gross and Robert Atchinson: gains $1.24 million 6. D. E. Shaw - David E. Shaw: gains $1.00 million 7. Highbridge Capital Management - Glenn Russell Dubin: gains $911 thousand 8. Tiger Global Management LLC - Chase Coleman: gains $905 thousand 9. Bridgewater Associates - Ray Dalio: gains $835 thousand 10. SAC Capital Advisors - Steven Cohen: gains $553 thousand

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in ADBE since the end of September. We did not take into account their option positions.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 30 percentage points in 13 months Learn how!

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!