Adobe Systems Incorporated (ADBE) Position Lessened by Capital Analysts LLC
Capital Analysts LLC decreased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 2.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 23,103 shares of the software company’s stock after selling 594 shares during the period. Capital Analysts LLC’s holdings in Adobe Systems were worth $3,447,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in ADBE. Capital Advisors Ltd. LLC purchased a new position in shares of Adobe Systems during the second quarter valued at approximately $100,000. CWM LLC lifted its stake in shares of Adobe Systems by 11.8% during the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after buying an additional 79 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Adobe Systems by 170.3% during the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after buying an additional 567 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Adobe Systems during the second quarter valued at approximately $141,000. Finally, Acrospire Investment Management LLC lifted its stake in shares of Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the period. 87.45% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on ADBE shares. Argus increased their price target on shares of Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Pivotal Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating and increased their price target for the stock from $118.00 to $160.00 in a research note on Wednesday, October 18th. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price target on the stock. in a research note on Thursday, August 31st. Moffett Nathanson started coverage on shares of Adobe Systems in a research note on Wednesday, September 6th. They set a “buy” rating and a $195.00 price target on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Adobe Systems in a research note on Tuesday, September 12th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Adobe Systems presently has a consensus rating of “Buy” and a consensus target price of $174.11.
Shares of Adobe Systems Incorporated (ADBE) traded down $0.20 during trading hours on Monday, reaching $181.72. 2,082,600 shares of the company traded hands, compared to its average volume of 2,431,747. The company has a market cap of $89,650.00, a P/E ratio of 54.74, a PEG ratio of 3.09 and a beta of 1.05. Adobe Systems Incorporated has a 12-month low of $98.00 and a 12-month high of $184.44. 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 issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. sell-side analysts anticipate that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated 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 available through the SEC website. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,802,529.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is currently owned by insiders.
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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