The third quarter portfolio update of ValueAct Capital, led by
, lists 14 stocks, with two of them new. The fund's total value is
$9.73 billion, with a quarter-over-quarter turnover of 13%. The
portfolio is currently weighted with top four sectors: health care
at 17.6%, technology at 9.9%, real estate at 7.7% and financial
services at 7.6%. Ubben has averaged a return of 19.21% over 12
Adobe Systems' insiders are selling and
just reduced his position with Adobe Systems Inc. (
), the creative design and digital analytics software company.
Here's a company update and Ubben's trade details, according to
GuruFocus Real Time Picks
Adobe Systems Inc. (
Impacts Portfolio: -1.35%
Up 58% over 12 months, Adobe Systems Inc. has a market cap of
$26.23 billion; shares trade with a P/E of 59.60 and a P/B of 3.80.
Originally incorporated in 1983, Adobe Systems Inc. is a global
software company. The company offers a line of software and
services used by creative professionals, marketers, knowledge
workers, application developers, enterprises and consumers for
creating, managing, delivering, measuring, optimizing and engaging
with compelling content and experiences across multiple operating
systems, devices and media.
Adobe Systems Inc. reported financial results for its third quarter
of fiscal year 2013, ending Aug. 30, 2013, with revenue of $995.1
million, down from $1,080,580 in the same quarter of 2012. GAPP
earnings per diluted share of $0.16 were reported for the third
fiscal quarter, during which the company acquired Neolane which
added around $6 million to revenue for the quarter. Adobe Creative
Cloud had over one million subscribers in the quarter, up by
331,000 subscribers, with year-over-year total revenue growth of
28% at $254.9 million for the segment.
Adobe's president and CEO, Shantanu Narayen commented on the reason
for the Neolane acquisition in a company press release, saying, "We
successfully completed the acquisition of Neolane, adding a
critical cross-channel campaign management solution to the Adobe
Marketing Cloud, which will further extend our leadership position
in digital marketing."
As of Oct. 17, 2013,
reduced his position by 8.09%, selling shares in the average price
range of $51.91.
The current share price is $52.07 with a change from average of 0%.
His current shares are 28,770,256 or 5.73% of shares outstanding.
Across seven quarters of pure gains, Guru Ubben has averaged a gain
of 80% on 31,303,362 shares bought at an average price of $28.95
per share. His highest gain on the holding was 97% in the third
quarter of 2011 when he bought 12,008,550 shares at an average
price of $26.43 per share.
Track historical pricing, revenue and net income:
Guru Jeff Ubben is one of eight gurus holding ADBE as of the second
quarter of 2013, and there is very active insider trading.
More Guru Action:
Across a five-year history, PRIMECAP Management has also averaged a
gain of 80% on 13,011,610 shares bought at an average price of
$29.12 per share. Selling 5,833,408 shares at an average price of
$35.58 per share, the firm has gained 47%.
PRIMECAP Management holds 40,090,232 shares or 7.98% of shares
outstanding as of the second quarter of 2013.
Guru Louis Moore Bacon sold out his ADBE holding in the second
quarter of 2013, gaining 18.8% selling 10,000 shares at an average
price of $44.30 per share. Bacon has gained in every quarter of his
seven-quarter trading history. Gains peaked at 83.7% in the fourth
quarter of 2010 when he sold 100,000 shares at an average price of
$28.66 per share.
Jeff Ubben is a founder, CEO and CIO of ValueAct Capital. Prior to
founding ValueAct Capital in 2000, Guru Ubben was a managing
partner at Blum Capital Partners for more than five years. He has
extensive corporate experience as a former chairman and director of
Martha Stewart Living Omnimedia Inc., a former director of Acxiom
Corp., Catalina Marketing Corp., Gartner Group Inc., Insurance Auto
Auctions Inc., Mentor Corporation, Omnicare Inc., Misys PLC, Per-Se
Technologies Inc., Sara Lee Corp. and others.
Check out Jeff Ubben's portfolio.
GuruFocus Real Time Picks reports the stock purchases and sales
that Gurus have made within the prior 2 weeks. The report time lag
can be as short as 2 days after the date of the transaction. This
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