RiverPark Advisors LLC lessened its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,077 shares of the software company’s stock after selling 4,807 shares during the quarter. Adobe Systems accounts for 0.6% of RiverPark Advisors LLC’s portfolio, making the stock its 29th biggest holding. RiverPark Advisors LLC’s holdings in Adobe Systems were worth $4,044,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ADBE. Cerebellum GP LLC bought a new stake in Adobe Systems during the fourth quarter valued at about $118,000. Community Bank N.A. bought a new stake in Adobe Systems during the fourth quarter valued at about $122,000. Avestar Capital LLC bought a new stake in Adobe Systems during the fourth quarter valued at about $109,000. BB&T Investment Services Inc. grew its holdings in Adobe Systems by 42.4% during the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after purchasing an additional 275 shares during the period. Finally, Truewealth LLC bought a new stake in Adobe Systems during the fourth quarter valued at about $162,000. Institutional investors own 87.06% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at $221.11 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $109,080.97, a PE ratio of 62.46, a P/E/G ratio of 2.70 and a beta of 1.10. Adobe Systems Incorporated has a 52-week low of $120.24 and a 52-week high of $221.27.
Several analysts have issued reports on the company. KeyCorp reissued an “overweight” rating and set a $225.00 price target (up previously from $220.00) on shares of Adobe Systems in a report on Tuesday, January 23rd. Vetr raised Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price target for the company in a report on Wednesday, November 29th. Zacks Investment Research lowered Adobe Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 21st. 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, BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 9th. Eight equities 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. Adobe Systems presently has a consensus rating of “Buy” and a consensus price target of $198.94.
In related news, CFO Mark Garrett sold 54,488 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total value of $10,209,961.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael A. Dillon sold 18,079 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $194.26, for a total value of $3,512,026.54. The disclosure for this sale can be found here. Insiders sold 351,199 shares of company stock worth $67,326,422 over the last quarter. 0.33% of the stock is owned by company insiders.
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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