Adobe Systems Incorporated (ADBE) Shares Bought by Atlantic Trust Group LLC

Atlantic Trust Group LLC raised its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 117.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,024,227 shares of the software company’s stock after buying an additional 552,491 shares during the quarter. Atlantic Trust Group LLC owned about 0.21% of Adobe Systems worth $152,795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. CAPROCK Group Inc. boosted its holdings in Adobe Systems by 21.3% during the 2nd quarter. CAPROCK Group Inc. now owns 1,956 shares of the software company’s stock valued at $277,000 after acquiring an additional 343 shares during the period. Grove Bank & Trust raised its position in Adobe Systems by 133.6% during the 2nd quarter. Grove Bank & Trust now owns 3,955 shares of the software company’s stock valued at $559,000 after purchasing an additional 2,262 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Adobe Systems by 68.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 28,400 shares of the software company’s stock valued at $4,017,000 after purchasing an additional 11,550 shares in the last quarter. Ingalls & Snyder LLC raised its position in Adobe Systems by 4.1% during the 2nd quarter. Ingalls & Snyder LLC now owns 2,050 shares of the software company’s stock valued at $290,000 after purchasing an additional 80 shares in the last quarter. Finally, Bank of Stockton raised its position in Adobe Systems by 0.4% during the 2nd quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 87.08% of the company’s stock.

In other Adobe Systems news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles M. Geschke sold 21,276 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $186.55, for a total value of $3,969,037.80. The disclosure for this sale can be found here. Insiders have sold 88,772 shares of company stock valued at $15,798,527 in the last three months. Insiders own 0.38% of the company’s stock.

Adobe Systems Incorporated (NASDAQ ADBE) traded up $6.13 during midday trading on Friday, reaching $195.05. The company had a trading volume of 4,235,800 shares, compared to its average volume of 3,000,000. The firm has a market cap of $96,150.00, a PE ratio of 57.54, a price-to-earnings-growth ratio of 2.38 and a beta of 1.05. Adobe Systems Incorporated has a 12 month low of $107.06 and a 12 month high of $195.50. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. Adobe Systems’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. equities analysts anticipate that Adobe Systems Incorporated will post 4.58 EPS for the current fiscal year.

ADBE has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $165.00 target price on shares of Adobe Systems in a research report on Thursday, September 21st. Robert W. Baird set a $160.00 price target on Adobe Systems and gave the stock a “buy” rating in a research report on Friday, October 6th. Barclays boosted their price target on Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, October 19th. Vetr lowered Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 price target for the company. in a research report on Thursday, October 19th. Finally, Cowen reissued a “buy” rating and issued a $200.00 price target on shares of Adobe Systems in a research report on Monday, December 11th. Eight investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $187.06.

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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.

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

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