Bailard Inc. Has $5.84 Million Position in Adobe Systems Incorporated (ADBE)
Bailard Inc. increased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 349.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,312 shares of the software company’s stock after purchasing an additional 25,905 shares during the period. Bailard Inc.’s holdings in Adobe Systems were worth $5,838,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Cerebellum GP LLC acquired a new position in Adobe Systems in the fourth quarter valued at $118,000. Community Bank N.A. acquired a new position in Adobe Systems in the fourth quarter valued at $122,000. Parkside Financial Bank & Trust boosted its stake in Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after acquiring an additional 567 shares in the last quarter. BB&T Investment Services Inc. boosted its stake in Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after acquiring an additional 275 shares in the last quarter. Finally, Exane Derivatives boosted its stake in Adobe Systems by 55.0% in the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.
In related news, CFO Mark Garrett sold 54,488 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $187.38, for a total transaction of $10,209,961.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total transaction of $338,845.50. Following the transaction, the executive vice president now directly owns 50,497 shares of the company’s stock, valued at $8,761,229.50. The disclosure for this sale can be found here. Insiders have sold 351,199 shares of company stock valued at $67,326,422 over the last three months. 0.38% of the stock is currently owned by corporate insiders.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. analysts predict that Adobe Systems Incorporated will post 5.12 EPS for the current fiscal year.
ADBE has been the subject of several research analyst reports. Pivotal Research upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and upped their price objective for the company from $118.00 to $160.00 in a research note on Wednesday, October 18th. JPMorgan Chase & Co. restated a “buy” rating and issued a $185.00 price objective on shares of Adobe Systems in a research note on Thursday, October 19th. Piper Jaffray Companies restated a “buy” rating and issued a $195.00 price objective on shares of Adobe Systems in a research note on Thursday, October 19th. BMO Capital Markets restated an “outperform” rating and issued a $187.00 price objective (up previously from $165.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Finally, Canaccord Genuity restated a “buy” rating and issued a $185.00 price objective (up previously from $170.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Eight investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $198.15.
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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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