Adobe Systems Incorporated (ADBE) Holdings Decreased by Sheets Smith Wealth Management

Sheets Smith Wealth Management lessened its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 51.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,483 shares of the software company’s stock after selling 4,754 shares during the quarter. Sheets Smith Wealth Management’s holdings in Adobe Systems were worth $786,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in shares of Adobe Systems by 170.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $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% during the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after buying an additional 275 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Adobe Systems during the 2nd quarter worth $141,000. Acrospire Investment Management LLC increased its holdings in shares of Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the last quarter. Finally, CWH Capital Management Inc. acquired a new stake in shares of Adobe Systems during the 2nd quarter worth $141,000. 87.08% of the stock is currently owned by institutional investors.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $195.05 on Friday. Adobe Systems Incorporated has a twelve month low of $107.06 and a twelve month high of $195.50. The stock has a market capitalization of $96,150.00, a price-to-earnings ratio of 57.54, a P/E/G ratio of 2.43 and a beta of 1.05. 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 announced its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. equities analysts anticipate that Adobe Systems Incorporated will post 4.58 earnings per share for the current year.

A number of analysts have recently commented on the company. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday. KeyCorp restated an “overweight” rating and set a $216.00 price objective (up from $178.00) on shares of Adobe Systems in a report on Wednesday, November 22nd. UBS Group assumed coverage on Adobe Systems in a report on Thursday, November 9th. They set a “buy” rating and a $217.00 price objective for the company. Zacks Investment Research downgraded Adobe Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 21st. Finally, Stifel Nicolaus upped their price objective on Adobe Systems from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Eight investment 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 stock. The stock presently has an average rating of “Buy” and an average target price of $187.06.

In other news, Director John E. Warnock sold 6,800 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of the sale, the director now directly owns 16,088 shares in the company, valued at $2,802,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Banse bought 1,125 shares of the stock in a transaction dated Monday, December 18th. The shares were acquired 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 $5,578,189.55. The disclosure for this purchase can be found here. Insiders have sold 88,772 shares of company stock valued at $15,798,527 over the last 90 days. Insiders own 0.38% of the company’s stock.

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

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