Rhumbline Advisers Increases Stake in Adobe Systems Incorporated (ADBE)
Rhumbline Advisers lifted its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 837,438 shares of the software company’s stock after purchasing an additional 10,456 shares during the quarter. Rhumbline Advisers owned 0.17% of Adobe Systems worth $124,929,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in ADBE. FMR LLC increased its holdings in Adobe Systems by 4.9% during the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after buying an additional 1,651,762 shares during the last quarter. BlackRock Inc. increased its holdings in Adobe Systems by 8.2% during the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after buying an additional 2,621,275 shares during the last quarter. Vanguard Group Inc. increased its holdings in Adobe Systems by 2.9% during the second quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after buying an additional 943,487 shares during the last quarter. State Street Corp increased its holdings in Adobe Systems by 1.2% during the first quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock worth $2,539,679,000 after buying an additional 234,270 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Adobe Systems by 784.4% during the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after buying an additional 9,957,241 shares during the last quarter. 87.45% of the stock is currently owned by institutional investors and hedge funds.
Adobe Systems Incorporated (NASDAQ ADBE) traded down $0.23 during mid-day trading on Tuesday, hitting $181.62. 488,877 shares of the stock were exchanged, compared to its average volume of 2,427,474. The company has a market capitalization of $89,080.00, a PE ratio of 54.74, a P/E/G ratio of 3.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $184.44.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. The firm 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 business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. sell-side analysts forecast that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
ADBE has been the topic of a number of recent analyst reports. Vetr upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 target price on the stock in a report on Tuesday, July 18th. Royal Bank Of Canada restated a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a report on Monday, July 31st. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Jefferies Group LLC initiated coverage on shares of Adobe Systems in a report on Thursday, August 24th. They set a “buy” rating and a $175.00 target price on the stock. Finally, Bank of America Corporation boosted their target price on shares of Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, August 25th. Six analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Adobe Systems currently has an average rating of “Buy” and an average target price of $174.11.
In other news, EVP Matthew Thompson sold 2,190 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total value of $379,789.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of the company’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 transaction, the executive vice president now directly owns 52,450 shares of the company’s stock, valued at approximately $9,503,415.50. The disclosure for this sale can be found here. Insiders sold 14,849 shares of company stock valued at $2,519,679 in the last three months. Company insiders own 0.38% of the company’s stock.
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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.
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