Park Avenue Securities LLC grew its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 23.7% during the 4th quarter, HoldingsChannel reports. The fund owned 4,207 shares of the software company’s stock after acquiring an additional 807 shares during the period. Park Avenue Securities LLC’s holdings in Adobe Systems were worth $748,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. WFG Advisors LP lifted its position in shares of Adobe Systems by 5.9% in the second quarter. WFG Advisors LP now owns 1,338 shares of the software company’s stock valued at $189,000 after acquiring an additional 75 shares in the last quarter. Iberiabank Corp lifted its position in shares of Adobe Systems by 2.1% in the fourth quarter. Iberiabank Corp now owns 12,277 shares of the software company’s stock valued at $2,151,000 after acquiring an additional 253 shares in the last quarter. BB&T Investment Services Inc. lifted its position in shares of Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after acquiring an additional 275 shares in the last quarter. Bank of Stockton lifted its position in shares of Adobe Systems by 4.8% in the fourth quarter. Bank of Stockton now owns 6,150 shares of the software company’s stock valued at $1,077,000 after acquiring an additional 280 shares in the last quarter. Finally, Edge Advisors LLC lifted its position in shares of Adobe Systems by 1.7% in the third quarter. Edge Advisors LLC now owns 17,093 shares of the software company’s stock valued at $2,549,000 after acquiring an additional 293 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

ADBE has been the topic of several research analyst reports. Argus boosted their price objective on Adobe Systems from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research downgraded Adobe Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Pivotal Research upgraded Adobe Systems from a “sell” rating to a “hold” rating and boosted their price objective for the company from $118.00 to $160.00 in a research report on Wednesday, October 18th. Vetr upgraded Adobe Systems from a “strong sell” rating to a “sell” rating and set a $163.12 price objective on the stock in a research report on Monday, October 23rd. Finally, Stephens reiterated a “buy” rating and issued a $210.00 target price on shares of Adobe Systems in a research report on Wednesday, January 3rd. Nine research 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 company currently has a consensus rating of “Buy” and a consensus target price of $197.79.

In other news, CFO Mark Garrett sold 54,488 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total transaction of $10,209,961.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy Banse bought 1,125 shares of the business’s 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 purchase, the director now owns 31,453 shares of the company’s stock, valued at approximately $5,578,189.55. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 351,199 shares of company stock worth $67,326,422. Company insiders own 0.38% of the company’s stock.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $187.99 on Friday. Adobe Systems Incorporated has a 52-week low of $115.03 and a 52-week 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. The stock has a market capitalization of $92,411.75, a P/E ratio of 55.45, a price-to-earnings-growth ratio of 2.30 and a beta of 1.18.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. equities research analysts predict that Adobe Systems Incorporated will post 5.12 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Adobe Systems Incorporated (ADBE) Shares Bought by Park Avenue Securities LLC” was originally reported by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/adobe-systems-incorporated-adbe-shares-bought-by-park-avenue-securities-llc/1859711.html.

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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems Incorporated (NASDAQ:ADBE).

Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.