SG Americas Securities LLC Lowers Stake in Adobe Systems Incorporated (ADBE)
SG Americas Securities LLC trimmed its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 72.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,765 shares of the software company’s stock after selling 49,007 shares during the quarter. SG Americas Securities LLC’s holdings in Adobe Systems were worth $2,799,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. OZ Management LP purchased a new stake in Adobe Systems in the 1st quarter valued at $9,369,000. United Capital Financial Advisers LLC raised its position in Adobe Systems by 5.8% in the 1st quarter. United Capital Financial Advisers LLC now owns 34,897 shares of the software company’s stock valued at $4,541,000 after buying an additional 1,902 shares during the last quarter. Invictus RG purchased a new stake in Adobe Systems in the 1st quarter valued at $676,000. Dynamic Capital Management Ltd raised its position in Adobe Systems by 813.0% in the 1st quarter. Dynamic Capital Management Ltd now owns 113,484 shares of the software company’s stock valued at $14,768,000 after buying an additional 101,054 shares during the last quarter. Finally, Brown Advisory Securities LLC raised its position in Adobe Systems by 0.5% in the 1st quarter. Brown Advisory Securities LLC now owns 4,368 shares of the software company’s stock valued at $569,000 after buying an additional 21 shares during the last quarter. 87.21% of the stock is currently owned by institutional investors.
Adobe Systems Incorporated (ADBE) opened at $182.90 on Thursday. The firm has a market capitalization of $90,775.45, a PE ratio of 55.47, a P/E/G ratio of 3.13 and a beta of 1.05. 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 1-year low of $98.00 and a 1-year high of $185.55.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. Adobe Systems’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. research analysts anticipate that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
In related news, Director John E. Warnock sold 6,800 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,802,529.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Matthew Thompson sold 2,190 shares of the firm’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 disclosure for this sale can be found here. Over the last three months, insiders have sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is currently owned by insiders.
A number of brokerages have issued reports on ADBE. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. BMO Capital Markets restated an “outperform” rating and issued a $165.00 price objective on shares of Adobe Systems in a research note on Thursday, September 21st. Robert W. Baird set a $160.00 price objective on Adobe Systems and gave the company a “buy” rating in a research note on Friday, October 6th. Royal Bank Of Canada restated a “buy” rating and issued a $157.00 price objective on shares of Adobe Systems in a research note on Monday, July 31st. Finally, Barclays PLC upped their price objective on Adobe Systems from $167.00 to $181.00 and gave the company an “overweight” rating in a research note 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 issued a strong buy rating to the company’s stock. Adobe Systems currently has an average rating of “Buy” and a consensus price target 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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