UBS Asset Management Americas Inc. trimmed its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,075,833 shares of the software company’s stock after selling 244,483 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Adobe Systems were worth $539,009,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Bender Robert & Associates acquired a new position in Adobe Systems during the 3rd quarter valued at approximately $3,476,000. Grove Bank & Trust boosted its position in Adobe Systems by 14.9% during the 3rd quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock valued at $678,000 after purchasing an additional 591 shares during the period. Bluestein R H & Co. acquired a new position in Adobe Systems during the 3rd quarter valued at approximately $2,812,000. Great West Life Assurance Co. Can boosted its position in Adobe Systems by 13.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock valued at $76,120,000 after purchasing an additional 59,670 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Adobe Systems by 12.1% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 770,857 shares of the software company’s stock valued at $114,996,000 after purchasing an additional 83,265 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.
ADBE has been the subject of a number of analyst reports. Argus boosted their price objective on Adobe Systems from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research lowered Adobe Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Vetr upgraded Adobe Systems from a “strong sell” rating to a “sell” rating and set a $163.12 price objective for the company in a research report on Monday, October 23rd. Barclays boosted their price objective on Adobe Systems from $193.00 to $221.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Finally, Stephens restated a “buy” rating and set a $210.00 price objective on shares of Adobe Systems in a research report on Wednesday, January 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $198.15.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. analysts forecast that Adobe Systems Incorporated will post 5.12 EPS for the current year.
In related news, Director Amy Banse bought 1,125 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were bought at an average cost of $177.35 per share, with a total value of $199,518.75. Following the completion of the transaction, the director now directly owns 31,453 shares of the company’s stock, valued at $5,578,189.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total value of $338,845.50. Following the sale, the executive vice president now directly owns 50,497 shares in the company, valued at $8,761,229.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 351,199 shares of company stock valued at $67,326,422. Insiders own 0.38% of the company’s stock.
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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