Adobe Systems Incorporated (ADBE) Holdings Reduced by Mar Vista Investment Partners LLC

Mar Vista Investment Partners LLC decreased its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 370,106 shares of the software company’s stock after selling 94,013 shares during the quarter. Adobe Systems makes up approximately 2.4% of Mar Vista Investment Partners LLC’s holdings, making the stock its 17th largest holding. Mar Vista Investment Partners LLC owned 0.08% of Adobe Systems worth $64,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Polen Capital Management LLC grew its holdings in shares of Adobe Systems by 3.7% during the 3rd quarter. Polen Capital Management LLC now owns 6,288,816 shares of the software company’s stock worth $938,166,000 after purchasing an additional 226,286 shares during the period. Ameriprise Financial Inc. grew 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. Wells Fargo & Company MN grew 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. Suvretta Capital Management LLC grew its holdings in shares of Adobe Systems by 0.5% during the 3rd quarter. Suvretta Capital Management LLC now owns 2,520,803 shares of the software company’s stock worth $376,053,000 after purchasing an additional 12,510 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Adobe Systems by 1.8% during the 3rd quarter. Legal & General Group Plc now owns 2,455,571 shares of the software company’s stock worth $366,296,000 after purchasing an additional 42,864 shares during the period. Institutional investors own 87.19% of the company’s stock.

In other Adobe Systems news, Chairman Shantanu Narayen sold 165,023 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was 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 is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total value of $338,845.50. Following the completion of the transaction, the executive vice president now directly owns 50,497 shares in the company, valued at $8,761,229.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,199 shares of company stock worth $67,326,422. 0.38% of the stock is currently owned by corporate insiders.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at $187.99 on Friday. Adobe Systems Incorporated has a 52-week low of $115.03 and a 52-week high of $204.45. The stock has a market capitalization of $92,411.75, a P/E ratio of 55.45, a price-to-earnings-growth ratio of 2.30 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ 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 period in the prior year, the company posted $0.90 EPS. Adobe Systems’s quarterly revenue was up 24.8% on a year-over-year basis. equities research analysts anticipate that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.

A number of analysts have recently issued reports on the company. Argus boosted their target price on Adobe Systems from $195.00 to $234.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Evercore ISI reiterated a “buy” rating and set a $220.00 target price on shares of Adobe Systems in a report on Friday, January 26th. Guggenheim reiterated a “buy” rating and set a $230.00 target price on shares of Adobe Systems in a report on Tuesday, January 23rd. Stephens reiterated a “buy” rating and set a $215.00 target price on shares of Adobe Systems in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada boosted their target price on Adobe Systems to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, January 23rd. Nine equities research 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 company. The stock presently has an average rating of “Buy” and a consensus target price of $197.79.

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Adobe Systems Company 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.

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

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