3,964 Shares in Adobe Systems Incorporated (ADBE) Purchased by FNY Managed Accounts LLC
FNY Managed Accounts LLC purchased a new stake in Adobe Systems Incorporated (NASDAQ:ADBE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,964 shares of the software company’s stock, valued at approximately $591,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its holdings in Adobe Systems by 13.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock valued at $76,120,000 after purchasing an additional 59,670 shares during the period. Nordea Investment Management AB boosted its holdings in Adobe Systems by 30.5% in the 3rd quarter. Nordea Investment Management AB now owns 415,230 shares of the software company’s stock valued at $61,944,000 after purchasing an additional 97,063 shares during the period. South State Corp boosted its holdings in Adobe Systems by 3.3% in the 3rd quarter. South State Corp now owns 25,293 shares of the software company’s stock valued at $3,774,000 after purchasing an additional 818 shares during the period. TD Asset Management Inc. boosted its holdings in Adobe Systems by 8.4% in the 3rd quarter. TD Asset Management Inc. now owns 204,426 shares of the software company’s stock valued at $30,496,000 after purchasing an additional 15,823 shares during the period. Finally, Ashburton Jersey Ltd bought a new stake in Adobe Systems in the 3rd quarter valued at about $5,772,000. Institutional investors and hedge funds own 87.21% of the company’s stock.
Adobe Systems Incorporated (NASDAQ:ADBE) opened at $184.46 on Friday. The stock has a market cap of $90,928.27, a P/E ratio of 55.56, a P/E/G ratio of 3.13 and a beta of 1.05. Adobe Systems Incorporated has a 12-month low of $98.00 and a 12-month high of $185.55. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. analysts anticipate that Adobe Systems Incorporated will post 3.46 earnings per share 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 that occurred on Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the completion of the transaction, the director now directly owns 16,088 shares in the company, valued at approximately $2,802,529.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total transaction of $304,433.64. Following the completion of the transaction, the executive vice president now owns 56,356 shares of the company’s stock, valued at $8,784,773.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,849 shares of company stock valued at $2,519,679. Corporate insiders own 0.38% of the company’s stock.
ADBE has been the subject of a number of recent research reports. 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 reissued an “outperform” rating and issued a $165.00 price objective on shares of Adobe Systems in a report on Thursday, September 21st. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the company a “buy” rating in a report on Friday, October 6th. Royal Bank Of Canada reissued a “buy” rating and issued a $157.00 price objective on shares of Adobe Systems in a report on Monday, July 31st. Finally, Barclays PLC boosted their price objective on shares of Adobe Systems from $167.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Six investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $175.43.
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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