Global Financial Private Capital LLC raised its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 9.4% in the third quarter, Holdings Channel reports. The fund owned 13,483 shares of the software company’s stock after acquiring an additional 1,156 shares during the quarter. Global Financial Private Capital LLC’s holdings in Adobe Systems were worth $3,640,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Adobe Systems in the second quarter valued at approximately $107,000. Psagot Investment House Ltd. acquired a new stake in shares of Adobe Systems in the third quarter valued at approximately $130,000. JNBA Financial Advisors increased its holdings in shares of Adobe Systems by 4,366.7% in the third quarter. JNBA Financial Advisors now owns 536 shares of the software company’s stock valued at $145,000 after purchasing an additional 524 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in shares of Adobe Systems in the second quarter valued at approximately $170,000. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in shares of Adobe Systems in the second quarter valued at approximately $177,000. 85.06% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Ann Lewnes sold 2,939 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $253.80, for a total transaction of $745,918.20. Following the completion of the transaction, the executive vice president now directly owns 61,498 shares in the company, valued at $15,608,192.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Bradley Rencher sold 12,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $245.30, for a total value of $2,943,600.00. Following the transaction, the executive vice president now owns 68,071 shares of the company’s stock, valued at $16,697,816.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,790 shares of company stock valued at $5,247,062. Company insiders own 0.33% of the company’s stock.

ADBE has been the subject of several recent research reports. BidaskClub cut Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Guggenheim initiated coverage on Adobe Systems in a report on Tuesday, August 7th. They issued a “neutral” rating and a $275.00 price target for the company. Bank of America reaffirmed a “buy” rating and issued a $300.00 price target on shares of Adobe Systems in a report on Wednesday, September 12th. Barclays increased their price target on Adobe Systems to $297.00 and gave the company an “overweight” rating in a report on Wednesday, September 12th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $286.00 price target (up previously from $276.00) on shares of Adobe Systems in a report on Friday, September 14th. Ten research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $271.04.

Shares of Adobe Systems stock opened at $244.84 on Friday. The company has a market capitalization of $123.71 billion, a P/E ratio of 49.40, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15. Adobe Systems Incorporated has a fifty-two week low of $165.68 and a fifty-two week high of $277.61. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.04. Adobe Systems had a return on equity of 29.51% and a net margin of 28.16%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. Equities research analysts predict that Adobe Systems Incorporated will post 5.66 EPS for the current year.

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Adobe Systems Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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

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