MetLife Investment Advisors LLC acquired a new position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 152,521 shares of the software company’s stock, valued at approximately $26,728,000.
Other hedge funds also recently made changes to their positions in the company. Ark Investment Management LLC increased its position 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 in the last quarter. Nationwide Fund Advisors increased its position in Adobe Systems by 3.9% during the 3rd quarter. Nationwide Fund Advisors now owns 729,421 shares of the software company’s stock worth $108,815,000 after purchasing an additional 27,083 shares in the last quarter. New York State Common Retirement Fund increased its position in Adobe Systems by 5.0% during the 3rd quarter. New York State Common Retirement Fund now owns 1,471,148 shares of the software company’s stock worth $219,466,000 after purchasing an additional 70,650 shares in the last quarter. Commonwealth Equity Services Inc increased its position in Adobe Systems by 8.3% during the 3rd quarter. Commonwealth Equity Services Inc now owns 43,181 shares of the software company’s stock worth $6,441,000 after purchasing an additional 3,292 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in 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 in the last quarter. Institutional investors and hedge funds own 87.02% of the company’s stock.
In related news, CFO Mark Garrett sold 54,488 shares of Adobe Systems stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $187.38, for a total transaction of $10,209,961.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael A. Dillon sold 18,079 shares of Adobe Systems stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $194.26, for a total transaction of $3,512,026.54. The disclosure for this sale can be found here. Insiders sold 349,246 shares of company stock worth $66,987,577 over the last quarter. 0.33% of the stock is currently owned by company insiders.
Shares of Adobe Systems stock opened at $224.10 on Monday. The company has a quick ratio of 2.05, a current ratio of 2.12 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $111,271.38, a price-to-earnings ratio of 59.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Adobe Systems Incorporated has a one year low of $124.51 and a one year high of $228.88.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted ($0.43) earnings per share. equities research analysts anticipate that Adobe Systems Incorporated will post 5.23 EPS for the current fiscal year.
A number of research firms recently issued reports on ADBE. Morgan Stanley reissued an “equal weight” rating and set a $235.00 target price (up previously from $193.00) on shares of Adobe Systems in a research report on Friday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $235.00 target price (up previously from $210.00) on shares of Adobe Systems in a research report on Friday. Credit Suisse Group increased their target price on shares of Adobe Systems from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup increased their target price on shares of Adobe Systems to $250.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus increased their target price on shares of Adobe Systems from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, March 12th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Adobe Systems presently has a consensus rating of “Buy” and a consensus target price of $214.06.
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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.
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