ValueAct Capital, Adobe: ValueAct Capital, a hedge fund managed by Jeffrey Ubben, sold over 2.5 million shares of its large position in Adobe Systems Incorporated (NASDAQ:ADBE) in a new SEC filing. The shares were sold in three transactions, at an average price of about $52.10 apiece. Following the sale, ValueAct owns almost 28.8 million shares of Adobe, versus 31.3 million held at the end of the second quarter.
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