Adobe Systems Incorporated (ADBE) Stake Increased by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 854,159 shares of the software company’s stock after buying an additional 16,721 shares during the period. Rhumbline Advisers owned 0.17% of Adobe Systems worth $149,683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ark Investment Management LLC lifted its holdings in Adobe Systems by 113.1% during the 2nd quarter. Ark Investment Management LLC now owns 1,890 shares of the software company’s stock worth $267,000 after purchasing an additional 1,003 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Adobe Systems during the 2nd quarter worth approximately $275,000. Intl Fcstone Inc. acquired a new stake in Adobe Systems during the 2nd quarter worth approximately $305,000. W. E. Donoghue & Co. LLC acquired a new stake in Adobe Systems during the 2nd quarter worth approximately $2,318,000. Finally, Eqis Capital Management Inc. lifted its holdings in Adobe Systems by 40.7% during the 3rd quarter. Eqis Capital Management Inc. now owns 2,642 shares of the software company’s stock worth $394,000 after purchasing an additional 764 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Several analysts recently weighed in on the company. Evercore ISI reissued a “buy” rating and set a $220.00 price target on shares of Adobe Systems in a report on Friday, January 26th. Royal Bank of Canada lifted their price target on Adobe Systems to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, January 23rd. Stephens reissued a “buy” rating and set a $215.00 price target on shares of Adobe Systems in a report on Tuesday, January 23rd. Guggenheim reissued a “buy” rating and set a $230.00 price target on shares of Adobe Systems in a report on Tuesday, January 23rd. Finally, Canaccord Genuity reissued a “buy” rating and set a $220.00 price target (up from $195.00) on shares of Adobe Systems in a report on Tuesday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $198.15.

In other news, Director Amy Banse acquired 1,125 shares of Adobe Systems stock in a transaction that occurred on Monday, December 18th. The shares were acquired at an average price of $177.35 per share, for a total transaction of $199,518.75. Following the transaction, the director now directly owns 31,453 shares of the company’s stock, valued at approximately $5,578,189.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total value of $338,845.50. Following the sale, the executive vice president now owns 50,497 shares in the company, valued at approximately $8,761,229.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,199 shares of company stock worth $67,326,422. Corporate insiders own 0.38% of the company’s stock.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at $201.56 on Friday. Adobe Systems Incorporated has a 52 week low of $117.83 and a 52 week high of $204.45. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $98,390.00, a price-to-earnings ratio of 59.46, a PEG ratio of 2.48 and a beta of 1.18.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the company posted $0.90 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. sell-side analysts expect that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.

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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.

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

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