Atlantic Trust Group LLC Has $152.80 Million Stake in Adobe Systems Incorporated (ADBE)

Atlantic Trust Group LLC lifted its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 117.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,024,227 shares of the software company’s stock after buying an additional 552,491 shares during the period. Atlantic Trust Group LLC owned approximately 0.21% of Adobe Systems worth $152,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its holdings in Adobe Systems by 170.3% during the 3rd 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 Adobe Systems by 42.4% during the 3rd 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. Exane Derivatives increased its holdings in Adobe Systems by 55.0% during the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after purchasing an additional 340 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in Adobe Systems during the 2nd quarter valued at about $141,000. Finally, Acrospire Investment Management LLC increased its holdings in Adobe Systems by 100.0% during the 2nd 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. Hedge funds and other institutional investors own 87.08% of the company’s stock.

Adobe Systems Incorporated (ADBE) traded down $0.72 during mid-day trading on Thursday, reaching $174.25. The company had a trading volume of 2,677,200 shares, compared to its average volume of 2,493,855. The company has a market cap of $86,250.23, a PE ratio of 49.43, a PEG ratio of 2.25 and a beta of 1.05. Adobe Systems Incorporated has a fifty-two week low of $102.47 and a fifty-two week high of $186.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.10. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. analysts predict that Adobe Systems Incorporated will post 4.58 EPS for the current year.

A number of research analysts recently issued reports on the company. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price target on the stock in a report on Wednesday, September 20th. Barclays reaffirmed a “buy” rating and set a $167.00 price objective on shares of Adobe Systems in a research report on Friday, September 15th. Wells Fargo & Company reaffirmed a “hold” rating and set a $145.00 price objective (up from $127.50) on shares of Adobe Systems in a research report on Wednesday, September 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $180.00 price objective on shares of Adobe Systems in a research report on Tuesday, September 12th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $180.00 price objective (up from $175.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $186.27.

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 can be accessed through this link. 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 $2,802,529.60. The disclosure for this sale can be found here. Insiders sold a total of 14,849 shares of company stock worth $2,554,091 over 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.

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

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