38,690 Shares in Adobe Systems Incorporated (ADBE) Acquired by Ashburton Jersey Ltd
Ashburton Jersey Ltd acquired a new stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 38,690 shares of the software company’s stock, valued at approximately $5,772,000. Adobe Systems makes up about 2.5% of Ashburton Jersey Ltd’s portfolio, making the stock its 12th biggest position.
A number of other institutional investors and hedge funds have also modified their holdings of ADBE. Janus Henderson Group PLC raised its position 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 valued at $1,587,936,000 after acquiring an additional 9,957,241 shares in the last quarter. BlackRock Inc. raised its position in shares of Adobe Systems by 8.2% in the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after purchasing an additional 2,621,275 shares during the period. FMR LLC raised its position in shares of Adobe Systems by 4.9% in the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after purchasing an additional 1,651,762 shares during the period. Polen Capital Management LLC raised its position in shares of Adobe Systems by 31.5% in the second quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock valued at $857,484,000 after purchasing an additional 1,452,892 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Adobe Systems by 45.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock valued at $542,237,000 after purchasing an additional 1,190,108 shares during the period. 87.21% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on ADBE. KeyCorp reissued an “overweight” rating and issued a $216.00 price target (up previously from $178.00) on shares of Adobe Systems in a research report on Wednesday. UBS Group AG began coverage on shares of Adobe Systems in a research report on Thursday, November 9th. They issued a “buy” rating and a $217.00 price target on the stock. Zacks Investment Research lowered shares of Adobe Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus lifted their price target on shares of Adobe Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Finally, Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price target on the stock in a research report on Monday, November 13th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $175.43.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock worth $2,519,679 in the last quarter. Corporate insiders own 0.38% of the company’s stock.
Adobe Systems Incorporated (NASDAQ:ADBE) opened at $182.90 on Friday. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $185.55. The stock has a market cap of $90,159.27, a price-to-earnings ratio of 55.09, a P/E/G ratio of 3.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Adobe Systems’s revenue was up 25.8% compared to the same quarter last year. analysts expect that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
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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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