Adobe Systems Incorporated (ADBE) Shares Bought by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. boosted its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 218.6% during the 4th quarter, HoldingsChannel reports. The firm owned 103,791 shares of the software company’s stock after buying an additional 71,211 shares during the quarter. Adobe Systems accounts for 1.3% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 15th biggest holding. Icon Advisers Inc. Co.’s holdings in Adobe Systems were worth $18,188,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Polen Capital Management LLC grew its holdings in shares of Adobe Systems by 3.7% during the 3rd quarter. Polen Capital Management LLC now owns 6,288,816 shares of the software company’s stock valued at $938,166,000 after acquiring an additional 226,286 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Adobe Systems by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,543,635 shares of the software company’s stock valued at $826,991,000 after acquiring an additional 488,904 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Adobe Systems by 45.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock valued at $542,237,000 after acquiring an additional 1,190,108 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Adobe Systems by 2.1% during the 3rd quarter. Wells Fargo & Company MN now owns 2,956,394 shares of the software company’s stock valued at $441,035,000 after acquiring an additional 59,616 shares in the last quarter. Finally, Suvretta Capital Management LLC grew its holdings in shares of Adobe Systems by 0.5% during the 3rd quarter. Suvretta Capital Management LLC now owns 2,520,803 shares of the software company’s stock valued at $376,053,000 after acquiring an additional 12,510 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total transaction of $338,845.50. Following the transaction, the executive vice president now owns 50,497 shares in the company, valued at approximately $8,761,229.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Amy Banse acquired 1,125 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were bought at an average price of $177.35 per share, for a total transaction of $199,518.75. Following the acquisition, the director now owns 31,453 shares in the company, valued at approximately $5,578,189.55. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 351,199 shares of company stock worth $67,326,422. Insiders own 0.38% of the company’s stock.

Adobe Systems Incorporated (NASDAQ ADBE) opened at $185.16 on Friday. Adobe Systems Incorporated has a twelve month low of $115.03 and a twelve month high of $204.45. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22. The stock has a market cap of $91,270.00, a PE ratio of 54.62, a PEG ratio of 2.35 and a beta of 1.18.

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 the consensus estimate of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. equities research analysts forecast that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.

Several research firms have recently commented on ADBE. Argus boosted their price target on shares of Adobe Systems from $195.00 to $234.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Evercore ISI restated a “buy” rating and set a $220.00 price target on shares of Adobe Systems in a report on Friday, January 26th. Guggenheim restated a “buy” rating and set a $230.00 price target on shares of Adobe Systems in a report on Tuesday, January 23rd. Stephens restated a “buy” rating and set a $215.00 price target on shares of Adobe Systems in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Adobe Systems to $208.00 and gave the company an “outperform” rating in a report on Tuesday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $197.79.

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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.

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

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