Fox Run Management L.L.C. bought a new position in Adobe Systems Incorporated (NASDAQ:ADBE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,600 shares of the software company’s stock, valued at approximately $537,000.
Other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC acquired a new stake in Adobe Systems during the 2nd quarter valued at $100,000. CWM LLC boosted its position in Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after buying an additional 79 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Adobe Systems in the 2nd quarter valued at $141,000. Acrospire Investment Management LLC boosted its position 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 during the last quarter. Finally, CWH Capital Management Inc. bought a new position in Adobe Systems in the 2nd quarter valued at $141,000. 87.45% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,849 shares of company stock valued at $2,519,679. Corporate insiders own 0.38% of the company’s stock.
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Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up $0.13 during midday trading on Tuesday, reaching $181.85. The company’s stock had a trading volume of 1,496,100 shares, compared to its average volume of 2,427,474. The firm has a market capitalization of $89,080.00, a P/E ratio of 54.74, a PEG ratio of 3.09 and a beta of 1.05. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a 1 year low of $98.00 and a 1 year high of $184.44.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. equities analysts forecast that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
Several research analysts have recently issued reports on ADBE shares. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price target on the stock in a research report on Wednesday, September 20th. Piper Jaffray Companies restated a “buy” rating and issued a $180.00 price target on shares of Adobe Systems in a research report on Tuesday, September 12th. Barclays PLC restated a “buy” rating and issued a $167.00 price target on shares of Adobe Systems in a research report on Friday, September 15th. Finally, Wells Fargo & Company restated a “hold” rating and issued a $145.00 price target (up from $127.50) on shares of Adobe Systems in a research report on Wednesday, September 20th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $174.11.
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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