Lodge Hill Capital LLC acquired a new position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 70,000 shares of the software company’s stock, valued at approximately $10,443,000. Adobe Systems makes up 0.8% of Lodge Hill Capital LLC’s holdings, making the stock its 23rd largest position.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in shares of Adobe Systems by 784.4% during the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after purchasing an additional 9,957,241 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Adobe Systems by 8.2% during the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after purchasing an additional 2,621,275 shares during the last quarter. FMR LLC boosted its holdings in shares of Adobe Systems by 4.9% during the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after purchasing an additional 1,651,762 shares during the last quarter. Polen Capital Management LLC boosted its holdings in shares of 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Adobe Systems by 45.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock worth $542,237,000 after purchasing an additional 1,190,108 shares during the last quarter. Institutional investors own 87.45% of the company’s stock.

In other news, Director John E. Warnock sold 6,800 shares of the company’s stock in a transaction on 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 sale, the director now owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total value of $353,864.07. Following the sale, the executive vice president now directly owns 52,450 shares in the company, valued at approximately $9,503,415.50. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock worth $2,519,679 over the last 90 days. 0.38% of the stock is owned by insiders.

Adobe Systems Incorporated (ADBE) opened at $179.52 on Monday. 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 Incorporated has a 52 week low of $98.00 and a 52 week high of $186.27. The company has a market capitalization of $88,493.13, a price-to-earnings ratio of 54.07, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. sell-side analysts predict that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.

A number of research analysts recently commented on the company. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price objective on the stock in a report on Wednesday, September 20th. Barclays reiterated a “buy” rating and issued a $167.00 price objective on shares of Adobe Systems in a report on Friday, September 15th. Piper Jaffray Companies reiterated a “buy” rating and issued a $180.00 price objective on shares of Adobe Systems in a report on Tuesday, September 12th. Finally, Wells Fargo & Company reiterated a “hold” rating and issued a $145.00 price objective (up from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Six research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Adobe Systems currently has a consensus rating of “Buy” and a consensus price target of $175.67.

TRADEMARK VIOLATION WARNING: This piece was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/12/04/lodge-hill-capital-llc-takes-10-44-million-position-in-adobe-systems-incorporated-adbe.html.

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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems Incorporated (NASDAQ:ADBE).

Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

Receive News & Stock Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related stocks with our FREE daily email newsletter.