Asset Management One Co. Ltd. grew its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 803,731 shares of the software company’s stock after acquiring an additional 3,940 shares during the period. Asset Management One Co. Ltd. owned 0.16% of Adobe Systems worth $119,767,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ADBE. Janus Henderson Group PLC lifted its position in shares of Adobe Systems by 784.4% during the second 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. BlackRock Inc. lifted its position in shares of Adobe Systems by 8.2% during the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after acquiring an additional 2,621,275 shares in the last quarter. FMR LLC lifted its position in shares of Adobe Systems by 4.9% during the second 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 worth $857,484,000 after acquiring an additional 1,452,892 shares in 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 worth $542,237,000 after acquiring an additional 1,190,108 shares in the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.
Adobe Systems Incorporated (NASDAQ ADBE) opened at $173.52 on Thursday. The company has a market capitalization of $82,587.66, a price-to-earnings ratio of 50.46, a P/E/G ratio of 2.12 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems Incorporated has a 12 month low of $100.89 and a 12 month high of $186.27.
Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. equities analysts forecast that Adobe Systems Incorporated will post 3.46 EPS for the current year.
In other Adobe Systems news, Director John E. Warnock sold 6,800 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of the sale, the director now directly owns 16,088 shares in the company, valued at $2,802,529.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total transaction of $353,864.07. Following the sale, the executive vice president now owns 52,450 shares of the company’s stock, valued at $9,503,415.50. The disclosure for this sale can be found here. In the last three months, insiders sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is owned by insiders.
Several research firms have recently weighed in on ADBE. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Adobe Systems in a report on Thursday, September 21st. Robert W. Baird set a $160.00 price target on shares of Adobe Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Barclays upped their price target on shares of Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Finally, Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price target on the stock. in a report on Thursday, August 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $176.50.
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Adobe Systems Company 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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