Gofen & Glossberg LLC IL Sells 801 Shares of Adobe Systems Incorporated (ADBE)

Gofen & Glossberg LLC IL trimmed its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 3.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,975 shares of the software company’s stock after selling 801 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Adobe Systems were worth $4,377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ADBE. Parkside Financial Bank & Trust grew its stake in Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after buying an additional 567 shares in the last quarter. BB&T Investment Services Inc. grew its stake in Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after buying an additional 275 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in Adobe Systems in the 2nd quarter valued at approximately $141,000. Acrospire Investment Management LLC grew its stake in Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares in the last quarter. Finally, CWH Capital Management Inc. purchased a new position in Adobe Systems in the 2nd quarter valued at approximately $141,000. Institutional investors and hedge funds own 87.08% of the company’s stock.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at $192.46 on Wednesday. Adobe Systems Incorporated has a fifty-two week low of $107.06 and a fifty-two week high of $198.21. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. The stock has a market cap of $96,148.53, a price-to-earnings ratio of 56.77, a PEG ratio of 2.50 and a beta of 1.06.

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

A number of research analysts recently weighed in on the stock. Vetr lowered shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $199.00 price objective for the company. in a research note on Monday. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 9th. Royal Bank of Canada restated a “buy” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Canaccord Genuity restated a “buy” rating and set a $170.00 price target (up from $165.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Finally, Oppenheimer restated a “hold” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $187.00.

In other news, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert K. Burgess sold 25,000 shares of Adobe Systems stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $175.39, for a total transaction of $4,384,750.00. Following the sale, the director now directly owns 12,375 shares of the company’s stock, valued at $2,170,451.25. The disclosure for this sale can be found here. Insiders have sold a total of 88,772 shares of company stock valued at $15,798,527 over the last ninety days. 0.38% of the stock is currently owned by insiders.

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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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