Mission Wealth Management LP purchased a new stake in Adobe Systems Incorporated (NASDAQ:ADBE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,324 shares of the software company’s stock, valued at approximately $232,000.
A number of other large investors also recently made changes to their positions in the business. Egerton Capital UK LLP raised its stake in shares of Adobe Systems by 119.6% during the 4th quarter. Egerton Capital UK LLP now owns 2,932,074 shares of the software company’s stock worth $513,817,000 after buying an additional 1,596,653 shares during the period. Schroder Investment Management Group raised its stake in shares of Adobe Systems by 556.2% during the 4th quarter. Schroder Investment Management Group now owns 711,219 shares of the software company’s stock worth $124,634,000 after buying an additional 602,832 shares during the period. Atlantic Trust Group LLC raised its stake in shares of Adobe Systems by 117.1% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,024,227 shares of the software company’s stock worth $152,795,000 after buying an additional 552,491 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Adobe Systems by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,543,635 shares of the software company’s stock worth $826,991,000 after buying an additional 488,904 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Adobe Systems by 53.5% during the 4th quarter. Bank of Montreal Can now owns 815,305 shares of the software company’s stock worth $142,872,000 after buying an additional 284,185 shares during the period. 86.18% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on ADBE. Canaccord Genuity reaffirmed a “buy” rating and set a $220.00 target price (up from $195.00) on shares of Adobe Systems in a research note on Tuesday, January 23rd. Zacks Investment Research raised Adobe Systems from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Tuesday, February 13th. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 9th. Evercore ISI reiterated a “buy” rating and set a $220.00 price target on shares of Adobe Systems in a research report on Friday, January 26th. Finally, Oppenheimer reiterated a “hold” rating on shares of Adobe Systems in a research report on Friday, December 15th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $198.15.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $202.98 on Wednesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $99,780.00, a price-to-earnings ratio of 59.88, a price-to-earnings-growth ratio of 2.46 and a beta of 1.18. Adobe Systems Incorporated has a twelve month low of $117.83 and a twelve month high of $205.12.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. equities research analysts anticipate that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.
In other Adobe Systems news, Director Amy Banse purchased 1,125 shares of the stock in a transaction dated Monday, December 18th. The stock was 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 in the company, valued at approximately $5,578,189.55. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total value of $338,845.50. Following the transaction, the executive vice president now owns 50,497 shares of the company’s stock, valued at $8,761,229.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 351,199 shares of company stock valued at $67,326,422. 0.38% of the stock is owned by company insiders.
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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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