Adobe Systems Incorporated (ADBE) Holdings Boosted by Chicago Capital LLC

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Chicago Capital LLC raised its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 45.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,173 shares of the software company’s stock after purchasing an additional 675 shares during the period. Chicago Capital LLC’s holdings in Adobe Systems were worth $587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ADBE. Edgewood Management LLC acquired a new position in shares of Adobe Systems in the 2nd quarter valued at approximately $565,496,000. Morgan Stanley raised its position in shares of Adobe Systems by 79.1% in the 2nd quarter. Morgan Stanley now owns 3,431,752 shares of the software company’s stock valued at $836,695,000 after purchasing an additional 1,515,736 shares in the last quarter. Moneta Group Investment Advisors LLC acquired a new position in shares of Adobe Systems in the 2nd quarter valued at approximately $546,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Adobe Systems in the 2nd quarter valued at approximately $102,939,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Adobe Systems in the 2nd quarter valued at approximately $101,973,000. 85.06% of the stock is currently owned by institutional investors.

In related news, EVP Ann Lewnes sold 2,941 shares of the company’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $271.14, for a total transaction of $797,422.74. Following the completion of the transaction, the executive vice president now directly owns 58,557 shares in the company, valued at approximately $15,877,144.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Bradley Rencher sold 12,000 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $245.30, for a total value of $2,943,600.00. Following the completion of the transaction, the executive vice president now directly owns 68,071 shares of the company’s stock, valued at approximately $16,697,816.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,790 shares of company stock valued at $5,247,062. 0.33% of the stock is owned by company insiders.

A number of brokerages have issued reports on ADBE. Rosenblatt Securities reaffirmed a “buy” rating and issued a $280.00 target price on shares of Adobe Systems in a research report on Sunday, October 21st. Wedbush began coverage on Adobe Systems in a research report on Thursday, October 18th. They set a “neutral” rating and a $270.00 price target on the stock. Barclays upped their price target on Adobe Systems from $297.00 to $304.00 and gave the company an “overweight” rating in a research report on Tuesday, October 16th. BidaskClub lowered Adobe Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Finally, Zacks Investment Research raised Adobe Systems from a “hold” rating to a “buy” rating and set a $305.00 price target on the stock in a research report on Thursday, October 4th. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Adobe Systems has a consensus rating of “Buy” and an average target price of $269.17.

Shares of ADBE opened at $240.56 on Wednesday. The firm has a market cap of $116.98 billion, a P/E ratio of 67.01, a P/E/G ratio of 2.58 and a beta of 1.15. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. Adobe Systems Incorporated has a 12 month low of $165.68 and a 12 month high of $277.61.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Adobe Systems had a return on equity of 29.51% and a net margin of 28.16%. The firm’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. On average, equities analysts forecast that Adobe Systems Incorporated will post 5.66 earnings per share for the current fiscal year.

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Adobe Systems Profile

Adobe Inc 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. Its 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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Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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