Adobe Systems Incorporated (ADBE) Holdings Held by Tiverton Asset Management LLC
Tiverton Asset Management LLC maintained its position in Adobe Systems Incorporated (NASDAQ:ADBE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,361 shares of the software company’s stock at the close of the 2nd quarter. Tiverton Asset Management LLC’s holdings in Adobe Systems were worth $16,175,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of ADBE. BlackRock Inc. increased its position in Adobe Systems by 1,894.1% during the 1st quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after purchasing an additional 30,228,013 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Adobe Systems by 92.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 3,372,838 shares of the software company’s stock worth $438,907,000 after purchasing an additional 1,619,111 shares in the last quarter. Egerton Capital UK LLP purchased a new stake in Adobe Systems during the 1st quarter worth about $209,666,000. Pioneer Investment Management Inc. purchased a new stake in Adobe Systems during the 1st quarter worth about $201,774,000. Finally, Polen Capital Management LLC increased its position in Adobe Systems by 31.5% during the 2nd quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after purchasing an additional 1,452,892 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 146.43 on Thursday. The stock has a market capitalization of $72.25 billion, a P/E ratio of 46.03 and a beta of 1.00. Adobe Systems Incorporated has a 12-month low of $98.00 and a 12-month high of $157.89. The firm’s 50-day moving average price is $151.61 and its 200 day moving average price is $140.16.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. Analysts predict that Adobe Systems Incorporated will post $4.22 EPS for the current fiscal year.
In related news, Director Charles M. Geschke sold 25,000 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $145.16, for a total transaction of $3,629,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total value of $286,466.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,359 shares of company stock valued at $7,868,382. 0.38% of the stock is owned by corporate insiders.
ADBE has been the subject of a number of recent research reports. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $157.24 price objective for the company in a research report on Wednesday, June 7th. BMO Capital Markets reiterated an “outperform” rating and set a $160.00 price objective (up previously from $140.00) on shares of Adobe Systems in a research report on Friday, June 9th. Pivotal Research cut Adobe Systems from a “hold” rating to a “sell” rating and lifted their price objective for the stock from $109.00 to $112.00 in a research report on Monday, June 12th. Citigroup Inc. reiterated a “buy” rating and set a $161.00 price objective (up previously from $141.00) on shares of Adobe Systems in a research report on Tuesday, June 13th. Finally, BidaskClub cut Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and a consensus price target of $158.25.
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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