Palladium Partners LLC lessened its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 42.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,445 shares of the software company’s stock after selling 39,463 shares during the period. Palladium Partners LLC’s holdings in Adobe Systems were worth $7,973,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Adobe Systems by 1,894.1% in the 1st quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock valued at $4,141,250,000 after acquiring an additional 30,228,013 shares during the period. Janus Henderson Group PLC increased its position in Adobe Systems by 784.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock valued at $1,587,936,000 after acquiring an additional 9,957,241 shares during the period. FMR LLC increased its position in shares of Adobe Systems by 4.9% during the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after purchasing an additional 1,651,762 shares during the period. Polen Capital Management LLC increased its position in shares of Adobe Systems by 31.5% during the 2nd quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock valued at $857,484,000 after purchasing an additional 1,452,892 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Adobe Systems by 45.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock valued at $542,237,000 after purchasing an additional 1,190,108 shares during the period. 87.45% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the company. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price target on the stock in a research report on Monday, November 13th. Royal Bank Of Canada reiterated a “buy” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. UBS AG assumed coverage on Adobe Systems in a research report on Thursday, November 9th. They set a “buy” rating and a $217.00 price target on the stock. Stifel Nicolaus lifted their price target on Adobe Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $170.00 price target (up from $165.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Adobe Systems currently has an average rating of “Buy” and an average target price of $174.11.
Adobe Systems Incorporated (NASDAQ:ADBE) traded down $0.06 during midday trading on Friday, reaching $182.24. The company’s stock had a trading volume of 1,433,667 shares, compared to its average volume of 2,415,201. Adobe Systems Incorporated has a one year low of $98.00 and a one year high of $184.44. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $89,860.00, a price-to-earnings ratio of 54.61, a P/E/G ratio of 3.08 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. analysts forecast that Adobe Systems Incorporated will post 3.46 earnings per share for the current fiscal year.
In other news, Director John E. Warnock sold 6,800 shares of Adobe Systems stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $174.20, for a total value of $1,184,560.00. Following the transaction, the director now directly owns 16,088 shares in the company, valued at $2,802,529.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total value of $353,864.07. Following the completion of the transaction, the executive vice president now owns 52,450 shares in the company, valued at $9,503,415.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,849 shares of company stock worth $2,519,679. Corporate insiders own 0.38% of the company’s stock.
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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