Adobe Systems Incorporated (ADBE) Position Boosted by AHL Partners LLP
AHL Partners LLP increased its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 56.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,597 shares of the software company’s stock after buying an additional 11,748 shares during the quarter. AHL Partners LLP’s holdings in Adobe Systems were worth $4,610,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. 1ST Source Bank grew its holdings in Adobe Systems by 0.3% in the 2nd quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America grew its holdings in Adobe Systems by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock worth $250,000 after buying an additional 13 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in Adobe Systems by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after buying an additional 13 shares in the last quarter. Trust Co. of Vermont grew its holdings in Adobe Systems by 0.6% in the 2nd quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after buying an additional 16 shares in the last quarter. Finally, Bank of Stockton grew its holdings in Adobe Systems by 0.4% in the 2nd quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after buying an additional 20 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.
In other Adobe Systems news, Director Charles M. Geschke sold 25,000 shares of Adobe Systems stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $145.16, for a total value of $3,629,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total transaction of $281,232.00. Following the completion of the sale, the executive vice president now owns 59,991 shares in the company, valued at $8,638,704. The disclosure for this sale can be found here. Insiders sold a total of 53,359 shares of company stock worth $7,868,382 over the last ninety days. 0.38% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on ADBE. Robert W. Baird set a $160.00 price objective on Adobe Systems and gave the stock a “buy” rating in a report on Friday. Cowen and Company reissued an “outperform” rating and issued a $165.00 price objective on shares of Adobe Systems in a report on Tuesday, October 3rd. Zacks Investment Research raised Adobe Systems from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $165.00 price objective on shares of Adobe Systems in a report on Thursday, September 21st. Finally, Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price objective for the company in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $158.16.
Adobe Systems Incorporated (NASDAQ ADBE) opened at 151.12 on Monday. The stock has a 50 day moving average of $151.62 and a 200-day moving average of $142.33. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89. The firm has a market capitalization of $74.49 billion, a P/E ratio of 47.51 and a beta of 0.99.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion for 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 firm’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. On average, equities research analysts anticipate that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.
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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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