Hendley & Co. Inc. raised its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 4.2% in the 4th quarter, Holdings Channel reports. The firm owned 28,645 shares of the software company’s stock after acquiring an additional 1,150 shares during the period. Adobe Systems makes up 2.6% of Hendley & Co. Inc.’s holdings, making the stock its 14th biggest holding. Hendley & Co. Inc.’s holdings in Adobe Systems were worth $5,020,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ark Investment Management LLC grew its position in shares of Adobe Systems by 113.1% during the 2nd quarter. Ark Investment Management LLC now owns 1,890 shares of the software company’s stock valued at $267,000 after buying an additional 1,003 shares during the last quarter. Veritable L.P. grew its position in shares of Adobe Systems by 15.2% during the 2nd quarter. Veritable L.P. now owns 24,547 shares of the software company’s stock valued at $3,472,000 after buying an additional 3,233 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in shares of Adobe Systems by 54.2% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 57,466 shares of the software company’s stock valued at $8,128,000 after buying an additional 20,207 shares during the last quarter. Bank of Hawaii grew its position in shares of Adobe Systems by 59.2% during the 2nd quarter. Bank of Hawaii now owns 4,330 shares of the software company’s stock valued at $612,000 after buying an additional 1,610 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in shares of Adobe Systems by 21.9% during the 2nd quarter. Voya Investment Management LLC now owns 1,500,273 shares of the software company’s stock valued at $212,198,000 after buying an additional 269,689 shares during the last quarter. 87.37% of the stock is owned by institutional investors.
In related news, Director Amy Banse purchased 1,125 shares of Adobe Systems stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of $177.35 per share, with a total value of $199,518.75. Following the purchase, the director now owns 31,453 shares in the company, valued at approximately $5,578,189.55. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Shantanu Narayen sold 165,023 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $197.89, for a total transaction of $32,656,401.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,585 shares of company stock valued at $53,958,298. Company insiders own 0.38% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at $195.64 on Friday. The firm has a market cap of $98,010.92, a P/E ratio of 57.71, a PEG ratio of 2.44 and a beta of 1.18. Adobe Systems Incorporated has a one year low of $113.29 and a one year high of $204.45. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. research analysts anticipate that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.
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About Adobe Systems
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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