Adobe Sys (ADBE) Stock Rose While Crestwood Capital Management LP Has Raised Holding; Hite Hedge Asset Management Has Increased Its Cone Midstream Partners LP (CNNX) Position by $1.03 Million; Market Valuation Declined

January 5, 2018 - By Adrian Mccoy

Michael R. Weisberg increased its stake in Adobe Sys Inc (ADBE) by 11.25% based on its latest 2017Q3 regulatory filing with the SEC. Crestwood Capital Management Lp bought 7,290 shares as the company’s stock rose 14.01% with the market. The hedge fund run by Michael R. Weisberg held 72,090 shares of the prepackaged software company at the end of 2017Q3, valued at $10.75 million, up from 64,800 at the end of the previous reported quarter. Crestwood Capital Management Lp who had been investing in Adobe Sys Inc for a number of months, seems to be bullish on the $91.50 billion market cap company. The stock increased 1.30% or $2.39 during the last trading session, reaching $185.61. About 798,132 shares traded. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 42.29% since January 5, 2017 and is uptrending. It has outperformed by 25.59% the S&P500.

Hite Hedge Asset Management Llc increased its stake in Cone Midstream Partners Lp (CNNX) by 89.79% based on its latest 2017Q3 regulatory filing with the SEC. Hite Hedge Asset Management Llc bought 68,636 shares as the company’s stock declined 11.18% while stock markets rallied. The hedge fund held 145,074 shares of the natural gas distribution company at the end of 2017Q3, valued at $2.30M, up from 76,438 at the end of the previous reported quarter. Hite Hedge Asset Management Llc who had been investing in Cone Midstream Partners Lp for a number of months, seems to be bullish on the $1.09B market cap company. The stock increased 0.35% or $0.06 during the last trading session, reaching $17.15. About 85,771 shares traded. CNX Midstream Partners LP (NYSE:CNNX) has risen 44.45% since January 5, 2017 and is uptrending. It has outperformed by 27.75% the S&P500.

Hite Hedge Asset Management Llc, which manages about $778.61 million and $387.03 million US Long portfolio, decreased its stake in Suburban Propane Partners L (NYSE:SPH) by 189,763 shares to 135,349 shares, valued at $3.53 million in 2017Q3, according to the filing. It also reduced its holding in Enbridge Energy Management L (NYSE:EEQ) by 23,644 shares in the quarter, leaving it with 870,911 shares, and cut its stake in Alon Usa Partners Lp (NYSE:ALDW).

Among 13 analysts covering CONE Midstream Partners LP (NYSE:CNNX), 7 have Buy rating, 0 Sell and 6 Hold. Therefore 54% are positive. CONE Midstream Partners LP had 36 analyst reports since August 6, 2015 according to SRatingsIntel. The firm has “Outperform” rating by RBC Capital Markets given on Friday, May 6. RBC Capital Markets maintained CNX Midstream Partners LP (NYSE:CNNX) rating on Sunday, October 29. RBC Capital Markets has “Hold” rating and $22.0 target. The firm has “Hold” rating by RBC Capital Markets given on Tuesday, November 7. On Tuesday, May 31 the stock rating was maintained by JP Morgan with “Neutral”. The stock of CNX Midstream Partners LP (NYSE:CNNX) earned “Outperform” rating by Wells Fargo on Wednesday, October 5. On Tuesday, July 18 the stock rating was upgraded by Barclays Capital to “Overweight”. Stifel Nicolaus maintained the shares of CNNX in report on Thursday, August 10 with “Buy” rating. The stock has “Neutral” rating by Goldman Sachs on Thursday, May 12. Johnson Rice initiated the shares of CNNX in report on Friday, March 24 with “Accumulate” rating. Robert W. Baird downgraded it to “Outperform” rating and $15 target in Tuesday, August 11 report.

Crestwood Capital Management Lp, which manages about $1.75B and $186.98M US Long portfolio, decreased its stake in Middleby Corp (NASDAQ:MIDD) by 4,660 shares to 54,210 shares, valued at $6.95 million in 2017Q3, according to the filing. It also reduced its holding in Ebay Inc (NASDAQ:EBAY) by 43,200 shares in the quarter, leaving it with 237,820 shares, and cut its stake in Alphabet Inc.

Among 38 analysts covering Adobe Systems (NASDAQ:ADBE), 29 have Buy rating, 0 Sell and 9 Hold. Therefore 76% are positive. Adobe Systems had 134 analyst reports since August 11, 2015 according to SRatingsIntel. The stock has “Buy” rating by Stephens on Tuesday, January 2. The firm has “Overweight” rating by JP Morgan given on Wednesday, October 7. The firm has “Buy” rating by BMO Capital Markets given on Tuesday, August 22. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Sector Perform” rating given on Tuesday, August 11 by RBC Capital Markets. The stock has “Buy” rating by Piper Jaffray on Wednesday, September 20. Bank of America maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Thursday, October 19. Bank of America has “Buy” rating and $213 target. Morgan Stanley maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Friday, June 16. Morgan Stanley has “Hold” rating and $13700 target. The firm has “Market Perform” rating given on Wednesday, January 11 by Wells Fargo. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Neutral” rating by Goldman Sachs on Friday, March 18. Wunderlich maintained the shares of ADBE in report on Wednesday, June 21 with “Buy” rating.

Since August 9, 2017, it had 1 insider buy, and 6 insider sales for $2.59 million activity. 2,190 Adobe Systems Incorporated (NASDAQ:ADBE) shares with value of $379,784 were sold by THOMPSON MATTHEW. Another trade for 6,800 shares valued at $1.18 million was made by WARNOCK JOHN E on Friday, October 20. Banse Amy bought $199,520 worth of Adobe Systems Incorporated (NASDAQ:ADBE) on Monday, December 18.

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. Ashfield Partners Lc stated it has 54,780 shares or 1.09% of all its holdings. Cornerstone invested 0.47% in Adobe Systems Incorporated (NASDAQ:ADBE). Newbrook Capital Advisors Limited Partnership has invested 2.91% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Strs Ohio holds 0.64% or 993,007 shares in its portfolio. Aspiriant Lc has 0.03% invested in Adobe Systems Incorporated (NASDAQ:ADBE). Rmb Cap Mgmt Ltd Llc stated it has 1,643 shares. Hsbc Plc reported 695,359 shares. Zacks Inv Mngmt has invested 0.08% in Adobe Systems Incorporated (NASDAQ:ADBE). Massachusetts-based Appleton Ma has invested 0.64% in Adobe Systems Incorporated (NASDAQ:ADBE). Illinois-based Guggenheim Lc has invested 0.21% in Adobe Systems Incorporated (NASDAQ:ADBE). 19,547 were reported by Autus Asset Mgmt Limited Liability. Dupont Mgmt stated it has 0.16% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Spectrum Asset Mgmt Incorporated (Nb Ca) holds 0.43% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 3,365 shares. First Long Island Investors Lc invested in 2.6% or 120,032 shares. Calamos Advisors Limited Company holds 0.06% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 55,334 shares.