Commonwealth Equity Services Inc boosted its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 8.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,181 shares of the software company’s stock after purchasing an additional 3,292 shares during the quarter. Commonwealth Equity Services Inc’s holdings in Adobe Systems were worth $6,441,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Adobe Systems by 1,894.1% during the 1st quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after acquiring an additional 30,228,013 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Adobe Systems by 784.4% during the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after acquiring an additional 9,957,241 shares in the last quarter. FMR LLC grew its holdings in Adobe Systems by 4.9% during the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after acquiring an additional 1,651,762 shares in the last quarter. Polen Capital Management LLC lifted its position in shares of Adobe Systems by 31.5% during the second quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock valued at $857,484,000 after buying an additional 1,452,892 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Adobe Systems by 45.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock valued at $542,237,000 after buying an additional 1,190,108 shares during the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.
In other news, EVP Matthew Thompson sold 2,190 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total value of $304,433.64. Following the sale, the executive vice president now owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock valued at $2,519,679 in the last 90 days. Company insiders own 0.38% of the company’s stock.
Several analysts have commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Vetr upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price target on the stock in a report on Wednesday, November 29th. Canaccord Genuity reaffirmed a “buy” rating and set a $170.00 price objective (up previously from $165.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Oppenheimer reaffirmed a “hold” rating on shares of Adobe Systems in a research note on Wednesday, September 20th. Finally, Cowen reissued an “outperform” rating and issued a $165.00 price target on shares of Adobe Systems in a research note on Tuesday, October 3rd. Five research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $176.50.
Adobe Systems Incorporated (NASDAQ ADBE) traded down $11.08 during mid-day trading on Monday, reaching $168.44. The company had a trading volume of 5,930,838 shares, compared to its average volume of 2,421,248. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. Adobe Systems Incorporated has a 12-month low of $100.16 and a 12-month high of $186.27. The stock has a market capitalization of $83,030.00, a PE ratio of 54.07, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. research analysts predict that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
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Adobe Systems Profile
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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