Lathrop Investment Management Corp Cuts Holdings in Adobe Systems Incorporated (ADBE)
Lathrop Investment Management Corp decreased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,363 shares of the software company’s stock after selling 11,606 shares during the period. Adobe Systems accounts for approximately 5.3% of Lathrop Investment Management Corp’s portfolio, making the stock its biggest holding. Lathrop Investment Management Corp’s holdings in Adobe Systems were worth $19,340,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its holdings in shares of 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 purchasing an additional 567 shares during the period. BB&T Investment Services Inc. increased its holdings in shares of 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 purchasing an additional 275 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Adobe Systems in the second quarter valued at approximately $141,000. Acrospire Investment Management LLC increased its holdings in shares of Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares during the period. Finally, CWH Capital Management Inc. acquired a new position in shares of Adobe Systems in the second quarter valued at approximately $141,000. 87.08% of the stock is currently owned by institutional investors.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $188.92 on Friday. 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 12 month low of $107.06 and a 12 month high of $188.94. The firm has a market capitalization of $93,130.00, a P/E ratio of 55.73, a P/E/G ratio of 2.38 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. research analysts anticipate that Adobe Systems Incorporated will post 4.58 EPS for the current year.
ADBE has been the topic of a number of recent research reports. Zacks Investment Research lowered Adobe Systems from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Barclays reissued a “buy” rating and issued a $167.00 target price on shares of Adobe Systems in a report on Friday, September 15th. Credit Suisse Group lowered Adobe Systems to a “hold” rating and set a $160.00 target price on the stock. in a report on Sunday, September 17th. Wells Fargo & Co reissued a “hold” rating and issued a $145.00 target price (up previously from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $170.00 target price (up previously from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Eight analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $187.06.
In other Adobe Systems news, Director Charles M. Geschke sold 21,276 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $186.55, for a total transaction of $3,969,037.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the business’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 owns 52,450 shares in the company, valued at $9,503,415.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,772 shares of company stock worth $15,798,527. 0.38% of the stock is owned by company 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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