Signaturefd LLC increased its position in shares of Adobe Systems (NASDAQ:ADBE) by 84.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,717 shares of the software company’s stock after purchasing an additional 1,244 shares during the period. Signaturefd LLC’s holdings in Adobe Systems were worth $587,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Avestar Capital LLC acquired a new stake in shares of Adobe Systems during the fourth quarter valued at about $109,000. Cerebellum GP LLC acquired a new stake in shares of Adobe Systems during the fourth quarter valued at about $118,000. Community Bank N.A. acquired a new stake in shares of Adobe Systems during the fourth quarter valued at about $122,000. Reilly Financial Advisors LLC increased its position in shares of Adobe Systems by 85.2% during the first quarter. Reilly Financial Advisors LLC now owns 576 shares of the software company’s stock valued at $124,000 after acquiring an additional 265 shares during the last quarter. Finally, Exchange Capital Management Inc. acquired a new stake in shares of Adobe Systems during the first quarter valued at about $125,000. Hedge funds and other institutional investors own 86.80% of the company’s stock.
In related news, EVP Ann Lewnes sold 2,942 shares of Adobe Systems stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $236.59, for a total value of $696,047.78. Following the completion of the transaction, the executive vice president now owns 70,322 shares in the company, valued at $16,637,481.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John E. Warnock sold 5,000 shares of Adobe Systems stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $224.94, for a total transaction of $1,124,700.00. Following the completion of the transaction, the director now owns 16,088 shares of the company’s stock, valued at approximately $3,618,834.72. The disclosure for this sale can be found here. Insiders sold 46,819 shares of company stock valued at $10,451,729 in the last quarter. 0.33% of the stock is owned by insiders.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. equities research analysts anticipate that Adobe Systems will post 5.35 EPS for the current fiscal year.
A number of equities research analysts have weighed in on ADBE shares. Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Tuesday, February 13th. Argus lifted their price target on shares of Adobe Systems from $195.00 to $234.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Evercore ISI reiterated a “buy” rating and set a $220.00 price target on shares of Adobe Systems in a research report on Friday, January 26th. Guggenheim reiterated a “buy” rating and set a $230.00 price target on shares of Adobe Systems in a research report on Tuesday, January 23rd. Finally, Stephens reiterated a “buy” rating and set a $215.00 price target on shares of Adobe Systems in a research report on Tuesday, January 23rd. Ten analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Adobe Systems presently has an average rating of “Buy” and a consensus price target of $219.50.
Adobe Systems Company Profile
Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.
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