Columbia Partners L L C Investment Management reduced its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 16.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,387 shares of the software company’s stock after selling 6,951 shares during the period. Columbia Partners L L C Investment Management’s holdings in Adobe Systems were worth $5,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Banque Pictet & Cie SA lifted its position in shares of Adobe Systems by 0.6% during the third quarter. Banque Pictet & Cie SA now owns 78,036 shares of the software company’s stock valued at $11,641,000 after purchasing an additional 460 shares in the last quarter. LA Financiere DE L Echiquier lifted its position in shares of Adobe Systems by 39.7% during the third quarter. LA Financiere DE L Echiquier now owns 60,082 shares of the software company’s stock valued at $8,963,000 after purchasing an additional 17,082 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Adobe Systems by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 5,543,635 shares of the software company’s stock valued at $826,991,000 after purchasing an additional 488,904 shares in the last quarter. Commonwealth Equity Services Inc lifted its position in shares of Adobe Systems by 8.3% during the third quarter. Commonwealth Equity Services Inc now owns 43,181 shares of the software company’s stock valued at $6,441,000 after purchasing an additional 3,292 shares in the last quarter. Finally, Caldwell & Orkin Inc. lifted its position in shares of Adobe Systems by 224.1% during the third quarter. Caldwell & Orkin Inc. now owns 9,400 shares of the software company’s stock valued at $1,402,000 after purchasing an additional 6,500 shares in the last quarter. 87.45% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content 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 domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.watchlistnews.com/columbia-partners-l-l-c-investment-management-has-5-13-million-stake-in-adobe-systems-incorporated-adbe/1714066.html.

In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $181.19, for a total value of $353,864.07. Following the completion of the sale, the executive vice president now directly owns 52,450 shares in the company, valued at approximately $9,503,415.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The disclosure for this sale can be found here. In the last three months, insiders sold 14,849 shares of company stock valued at $2,519,679. Corporate insiders own 0.38% of the company’s stock.

A number of research analysts recently weighed in on ADBE shares. Argus raised their price target on shares of Adobe Systems from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Pivotal Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating and raised their price target for the company from $118.00 to $160.00 in a research report on Wednesday, October 18th. Vetr lowered shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective on the stock. in a research report on Thursday, August 31st. Moffett Nathanson assumed coverage on shares of Adobe Systems in a research report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 price objective on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Adobe Systems in a research report on Tuesday, September 12th. 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 company’s stock. The stock presently has an average rating of “Buy” and an average price target of $174.11.

Adobe Systems Incorporated (ADBE) traded down $0.06 during mid-day trading on Friday, reaching $182.24. 1,433,667 shares of the company’s stock were exchanged, compared to its average volume of 2,524,848. 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 Incorporated has a fifty-two week low of $98.00 and a fifty-two week high of $184.44. The stock has a market cap of $89,833.94, a PE ratio of 54.89, a PEG ratio of 3.10 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. sell-side analysts forecast that Adobe Systems Incorporated will post 3.46 earnings per share for the current fiscal year.

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.

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

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