State of Tennessee Treasury Department boosted its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 438,481 shares of the software company’s stock after acquiring an additional 55,623 shares during the period. State of Tennessee Treasury Department owned 0.09% of Adobe Systems worth $76,840,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ADBE. Polen Capital Management LLC increased its holdings in shares of Adobe Systems by 1.2% during the 4th quarter. Polen Capital Management LLC now owns 6,362,305 shares of the software company’s stock worth $1,114,930,000 after purchasing an additional 73,489 shares during the period. Ameriprise Financial Inc. increased 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 worth $826,991,000 after purchasing an additional 488,904 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Adobe Systems by 2.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,368,796 shares of the software company’s stock worth $940,828,000 after purchasing an additional 128,148 shares during the period. Wells Fargo & Company MN increased 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 worth $441,035,000 after purchasing an additional 59,616 shares during the period. Finally, Egerton Capital UK LLP increased its holdings in shares of Adobe Systems by 119.6% during the 4th quarter. Egerton Capital UK LLP now owns 2,932,074 shares of the software company’s stock worth $513,817,000 after purchasing an additional 1,596,653 shares during the period. 86.18% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Shantanu Narayen sold 165,023 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $197.89, for a total value of $32,656,401.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark Garrett sold 54,488 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $187.38, for a total transaction of $10,209,961.44. The disclosure for this sale can be found here. Insiders sold 351,199 shares of company stock worth $67,326,422 over the last 90 days. 0.38% of the stock is currently owned by company insiders.
Adobe Systems Incorporated (NASDAQ:ADBE) opened at $205.13 on Wednesday. Adobe Systems Incorporated has a twelve month low of $117.83 and a twelve month high of $205.12. The firm has a market cap of $99,780.00, a P/E ratio of 60.51, a P/E/G ratio of 2.46 and a beta of 1.18. 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 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. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business posted $0.90 earnings per share. Adobe Systems’s revenue was up 24.8% compared to the same quarter last year. equities analysts predict that Adobe Systems Incorporated will post 5.12 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Adobe Systems Incorporated (ADBE) Shares Bought by State of Tennessee Treasury Department” was first reported by Week Herald and is owned by of Week Herald. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://weekherald.com/2018/02/21/adobe-systems-incorporated-adbe-shares-bought-by-state-of-tennessee-treasury-department.html.
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.
Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems Incorporated (NASDAQ:ADBE).
Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.