Creative Planning grew its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,447 shares of the software company’s stock after acquiring an additional 1,184 shares during the period. Creative Planning’s holdings in Adobe Systems were worth $4,810,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its position in shares of Adobe Systems by 170.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after purchasing an additional 567 shares during the last quarter. BB&T Investment Services Inc. raised its position in shares of Adobe Systems by 42.4% during the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after purchasing an additional 275 shares during the last quarter. Exane Derivatives raised its position in shares of Adobe Systems by 55.0% during the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after purchasing an additional 340 shares during the last quarter. Acrospire Investment Management LLC grew its stake in Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after acquiring an additional 500 shares in the last quarter. Finally, CWH Capital Management Inc. purchased a new stake in Adobe Systems during the 2nd quarter valued at about $141,000. Institutional investors and hedge funds own 86.76% of the company’s stock.
Adobe Systems Incorporated (ADBE) traded up $4.16 during trading on Monday, reaching $192.15. 2,824,624 shares of the company’s stock were exchanged, compared to its average volume of 2,750,000. The firm has a market cap of $94,460.00, a price-to-earnings ratio of 56.68, a PEG ratio of 2.30 and a beta of 1.18. Adobe Systems Incorporated has a 12 month low of $115.03 and a 12 month high of $204.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the business earned $0.90 EPS. The company’s revenue was up 24.8% on a year-over-year basis. analysts predict that Adobe Systems Incorporated will post 5.12 EPS for the current year.
Several analysts recently issued reports on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $220.00 price objective (up previously from $195.00) on shares of Adobe Systems in a research note on Tuesday, January 23rd. Evercore ISI reaffirmed a “buy” rating and set a $220.00 price objective on shares of Adobe Systems in a research note on Friday, January 26th. Stephens reaffirmed a “buy” rating and set a $215.00 price objective on shares of Adobe Systems in a research note on Tuesday, January 23rd. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 9th. Finally, Guggenheim reaffirmed a “buy” rating and set a $230.00 price objective on shares of Adobe Systems in a research note on Tuesday, January 23rd. Nine investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $197.79.
In other news, Director Amy Banse acquired 1,125 shares of Adobe Systems stock in a transaction dated Monday, December 18th. The shares were acquired at an average cost of $177.35 per share, for a total transaction of $199,518.75. Following the acquisition, the director now owns 31,453 shares of the company’s stock, valued at $5,578,189.55. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Shantanu Narayen sold 165,023 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $197.89, for a total transaction of $32,656,401.47. The disclosure for this sale can be found here. Insiders sold a total of 351,199 shares of company stock worth $67,326,422 over the last 90 days. Company insiders own 0.38% of the company’s stock.
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About Adobe Systems
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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