Adobe Systems Inc. (ADBE) Position Held by Cohen Klingenstein LLC
Cohen Klingenstein LLC continued to hold its stake in Adobe Systems Inc. (NASDAQ:ADBE) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,159 shares of the software company’s stock at the end of the third quarter. Adobe Systems accounts for approximately 0.8% of Cohen Klingenstein LLC’s holdings, making the stock its 25th largest position. Cohen Klingenstein LLC’s holdings in Adobe Systems were worth $4,793,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Brown Advisory Inc. increased its stake in Adobe Systems by 16,033.1% in the second quarter. Brown Advisory Inc. now owns 3,828,878 shares of the software company’s stock worth $366,768,000 after buying an additional 3,805,145 shares during the last quarter. FMR LLC increased its stake in Adobe Systems by 6.6% in the second quarter. FMR LLC now owns 36,342,447 shares of the software company’s stock worth $3,481,242,000 after buying an additional 2,249,163 shares during the last quarter. Janus Capital Management LLC increased its stake in Adobe Systems by 19.9% in the second quarter. Janus Capital Management LLC now owns 13,353,901 shares of the software company’s stock worth $1,279,159,000 after buying an additional 2,215,100 shares during the last quarter. Vanguard Group Inc. increased its stake in Adobe Systems by 4.5% in the second quarter. Vanguard Group Inc. now owns 30,836,091 shares of the software company’s stock worth $2,953,789,000 after buying an additional 1,325,228 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Adobe Systems during the second quarter worth about $115,522,000. Institutional investors own 86.36% of the company’s stock.
Shares of Adobe Systems Inc. (NASDAQ:ADBE) traded down 2.04% during midday trading on Wednesday, hitting $102.81. 3,397,006 shares of the company were exchanged. Adobe Systems Inc. has a one year low of $71.27 and a one year high of $111.09. The stock has a market cap of $51.12 billion, a PE ratio of 52.45 and a beta of 1.14. The stock’s 50-day moving average is $106.78 and its 200-day moving average is $101.47.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The business had revenue of $1.46 billion for the quarter. During the same quarter in the previous year, the business posted $0.54 earnings per share. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts anticipate that Adobe Systems Inc. will post $2.98 EPS for the current year.
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ADBE has been the subject of a number of research reports. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $105.68 price target for the company. in a research report on Monday, October 10th. Deutsche Bank AG restated a “buy” rating and set a $125.00 price objective on shares of Adobe Systems in a research report on Thursday, November 3rd. Stephens assumed coverage on Adobe Systems in a research report on Wednesday, August 10th. They set an “overweight” rating and a $125.00 price objective for the company. Cowen and Company restated an “outperform” rating and set a $120.00 price objective on shares of Adobe Systems in a research report on Tuesday, September 27th. Finally, BTIG Research assumed coverage on Adobe Systems in a research report on Wednesday, November 16th. They set a “neutral” rating for the company. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $112.87.
In related news, Chairman John E. Warnock sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $106.99, for a total value of $534,950.00. Following the transaction, the chairman now directly owns 16,088 shares in the company, valued at approximately $1,721,255.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael A. Dillon sold 13,331 shares of the firm’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $109.64, for a total transaction of $1,461,610.84. Following the completion of the transaction, the executive vice president now owns 30,993 shares in the company, valued at $3,398,072.52. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.
Adobe Systems Company 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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