Genesee Valley Trust Co. trimmed its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,883 shares of the software company’s stock after selling 1,195 shares during the period. Adobe Systems makes up approximately 1.4% of Genesee Valley Trust Co.’s portfolio, making the stock its 7th biggest holding. Genesee Valley Trust Co.’s holdings in Adobe Systems were worth $3,309,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its position in Adobe Systems by 45.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock valued at $542,237,000 after acquiring an additional 1,190,108 shares during the last quarter. PointState Capital LP bought a new position in Adobe Systems during the second quarter valued at approximately $101,992,000. Koch Industries Inc. grew its position in Adobe Systems by 13,495.0% during the second quarter. Koch Industries Inc. now owns 557,937 shares of the software company’s stock valued at $554,000 after acquiring an additional 553,833 shares during the last quarter. Atlantic Trust Group LLC grew its position in Adobe Systems by 117.1% during the third quarter. Atlantic Trust Group LLC now owns 1,024,227 shares of the software company’s stock valued at $152,795,000 after acquiring an additional 552,491 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Adobe Systems by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 5,543,635 shares of the software company’s stock valued at $826,991,000 after acquiring an additional 488,904 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Shares of Adobe Systems Incorporated (ADBE) opened at $185.16 on Friday. Adobe Systems Incorporated has a 52 week low of $115.03 and a 52 week high of $204.45. The firm has a market capitalization of $94,550.20, a P/E ratio of 54.62, a PEG ratio of 2.35 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the firm posted $0.90 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. sell-side analysts forecast that Adobe Systems Incorporated will post 5.12 EPS for the current year.

A number of research analysts have commented on the stock. Canaccord Genuity reiterated a “buy” rating and set a $220.00 price target (up from $195.00) on shares of Adobe Systems in a research report on Tuesday, January 23rd. Evercore ISI reiterated a “buy” rating and set a $220.00 price target on shares of Adobe Systems in a research report on Friday, January 26th. Stephens reiterated a “buy” rating and set a $215.00 price target on shares of Adobe Systems in a research report on Tuesday, January 23rd. Guggenheim reiterated a “buy” rating and set a $230.00 price target on shares of Adobe Systems in a research report on Tuesday, January 23rd. Finally, Pivotal Research increased their price target on shares of Adobe Systems from $193.00 to $195.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Nine investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Adobe Systems currently has a consensus rating of “Buy” and a consensus price target of $197.79.

In other Adobe Systems news, Director Amy Banse purchased 1,125 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was bought at an average price of $177.35 per share, with a total value of $199,518.75. Following the completion of the purchase, the director now directly owns 31,453 shares of the company’s stock, valued at approximately $5,578,189.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Shantanu Narayen sold 165,023 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $197.89, for a total value of $32,656,401.47. The disclosure for this sale can be found here. Insiders sold 351,199 shares of company stock valued at $67,326,422 in the last ninety days. 0.38% of the stock is currently owned by insiders.

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

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