LA Financiere DE L Echiquier Acquires 17,082 Shares of Adobe Systems Incorporated (ADBE)
LA Financiere DE L Echiquier increased its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 39.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,082 shares of the software company’s stock after acquiring an additional 17,082 shares during the quarter. Adobe Systems comprises about 6.3% of LA Financiere DE L Echiquier’s investment portfolio, making the stock its 7th largest holding. LA Financiere DE L Echiquier’s holdings in Adobe Systems were worth $8,963,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in ADBE. Capital Advisors Ltd. LLC bought a new position in Adobe Systems during the second quarter worth about $100,000. Parkside Financial Bank & Trust increased its position in Adobe Systems by 170.3% during the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after acquiring an additional 567 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new position in Adobe Systems during the second quarter worth about $141,000. Acrospire Investment Management LLC increased its position in Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares during the period. Finally, CWH Capital Management Inc. bought a new position in Adobe Systems during the second quarter worth about $141,000. 87.45% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on ADBE shares. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. BMO Capital Markets reissued an “outperform” rating and issued a $165.00 target price on shares of Adobe Systems in a report on Thursday, September 21st. Robert W. Baird set a $160.00 target price on shares of Adobe Systems and gave the company a “buy” rating in a report on Friday, October 6th. Royal Bank Of Canada reissued a “buy” rating and issued a $157.00 target price on shares of Adobe Systems in a report on Monday, July 31st. Finally, Barclays PLC raised their target price on shares of Adobe Systems from $167.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Adobe Systems has a consensus rating of “Buy” and an average target price of $174.11.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction on Friday, October 20th. The shares were 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 approximately $2,802,529.60. The disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock valued at $2,519,679 in the last 90 days. 0.38% of the stock is currently owned by company insiders.
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Adobe Systems Incorporated (NASDAQ ADBE) traded down $0.06 during trading on Friday, hitting $182.24. 1,433,667 shares of the company were exchanged, compared to its average volume of 2,415,201. The firm has a market cap of $89,860.00, a P/E ratio of 54.61, a PEG ratio of 3.08 and a beta of 1.05. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $184.44.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. analysts anticipate that Adobe Systems Incorporated will post 3.46 earnings per share for the current fiscal year.
Adobe Systems 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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