William Blair Investment Management LLC trimmed its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 23.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 737,577 shares of the software company’s stock after selling 228,364 shares during the period. William Blair Investment Management LLC owned 0.15% of Adobe Systems worth $129,253,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ADBE. Avestar Capital LLC purchased a new stake in Adobe Systems in the fourth quarter worth $109,000. Cerebellum GP LLC purchased a new stake in Adobe Systems in the fourth quarter worth $118,000. Community Bank N.A. purchased a new stake in Adobe Systems in the fourth quarter worth $122,000. BB&T Investment Services Inc. grew its stake in Adobe Systems by 42.4% in the third 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 period. Finally, Truewealth LLC purchased a new stake in Adobe Systems in the fourth quarter worth $162,000. 87.02% of the stock is currently owned by institutional investors.
Shares of Adobe Systems stock opened at $226.85 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.12 and a quick ratio of 2.05. The company has a market capitalization of $113,343.37, a PE ratio of 60.33, a price-to-earnings-growth ratio of 2.65 and a beta of 1.10. Adobe Systems Incorporated has a 1 year low of $126.01 and a 1 year high of $231.34.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.43) earnings per share. sell-side analysts expect that Adobe Systems Incorporated will post 5.35 EPS for the current year.
In other Adobe Systems news, Director Charles M. Geschke sold 21,276 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $186.55, for a total value of $3,969,037.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Warnock sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $224.94, for a total value of $1,124,700.00. Following the completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $3,618,834.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 349,646 shares of company stock valued at $67,309,347. Company insiders own 0.33% of the company’s stock.
Several research firms have commented on ADBE. Zacks Investment Research downgraded Adobe Systems from a “buy” rating to a “hold” rating in a report on Tuesday. DZ Bank raised Adobe Systems from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup upped their price target on Adobe Systems to $250.00 and gave the company a “buy” rating in a report on Friday, March 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $235.00 price target (up from $210.00) on shares of Adobe Systems in a report on Friday, March 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $235.00 price target (up from $193.00) on shares of Adobe Systems in a report on Friday, March 16th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $214.06.
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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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