Cubist Systematic Strategies LLC raised its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 558.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,471 shares of the software company’s stock after buying an additional 16,516 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Adobe Systems were worth $2,905,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC bought a new stake in shares of Adobe Systems in the 2nd quarter worth approximately $100,000. Parkside Financial Bank & Trust boosted its position in shares of Adobe Systems by 170.3% during the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after purchasing an additional 567 shares in the last quarter. BB&T Investment Services Inc. boosted its position in shares of Adobe Systems by 42.4% during the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after purchasing an additional 275 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Adobe Systems during the second quarter valued at approximately $141,000. Finally, Acrospire Investment Management LLC boosted its position in shares of Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.
In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total value of $353,864.07. Following the completion of the transaction, the executive vice president now owns 52,450 shares in the company, valued at $9,503,415.50. The transaction was disclosed in a document filed 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 on Monday, October 23rd. The stock was 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. Insiders sold 12,896 shares of company stock valued at $2,215,246 in the last 90 days. Company insiders own 0.38% of the company’s stock.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. equities research analysts forecast that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the company. Cowen restated a “buy” rating and set a $200.00 price target on shares of Adobe Systems in a research report on Monday. J P Morgan Chase & Co lowered Adobe Systems from an “overweight” rating to a “neutral” rating and set a $185.00 price target on the stock. in a research report on Tuesday. BidaskClub lowered Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. Vetr upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price target on the stock in a research report on Tuesday, December 5th. Finally, Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $203.00 price target on the stock in a research report on Monday, December 4th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $177.56.
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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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