Two Sigma Advisers LP boosted its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 142.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 394,647 shares of the software company’s stock after acquiring an additional 231,900 shares during the quarter. Two Sigma Advisers LP owned about 0.08% of Adobe Systems worth $69,158,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Ark Investment Management LLC boosted its position in shares of Adobe Systems by 113.1% during the second quarter. Ark Investment Management LLC now owns 1,890 shares of the software company’s stock worth $267,000 after buying an additional 1,003 shares during the period. Nationwide Fund Advisors boosted its position in shares of Adobe Systems by 3.9% during the third quarter. Nationwide Fund Advisors now owns 729,421 shares of the software company’s stock worth $108,815,000 after buying an additional 27,083 shares during the period. Zweig DiMenna Associates LLC purchased a new position in shares of Adobe Systems during the third quarter worth $269,000. CIBC Asset Management Inc boosted its position in shares of Adobe Systems by 0.9% during the third quarter. CIBC Asset Management Inc now owns 87,846 shares of the software company’s stock worth $13,105,000 after buying an additional 804 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Adobe Systems by 5.0% during the third quarter. New York State Common Retirement Fund now owns 1,471,148 shares of the software company’s stock worth $219,466,000 after buying an additional 70,650 shares during the period. 87.06% of the stock is owned by institutional investors.
Shares of Adobe Systems Incorporated (ADBE) opened at $219.76 on Wednesday. The stock has a market capitalization of $108,997.10, a PE ratio of 64.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22. Adobe Systems Incorporated has a fifty-two week low of $120.62 and a fifty-two week high of $224.90.
In other news, CFO Mark Garrett sold 54,488 shares of Adobe Systems stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total transaction of $10,209,961.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael A. Dillon sold 18,079 shares of Adobe Systems 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 have sold 349,246 shares of company stock worth $66,987,577 in the last quarter. Insiders own 0.33% of the company’s stock.
ADBE has been the subject of a number of recent research reports. Zacks Investment Research lowered Adobe Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 21st. Royal Bank of Canada lifted their target price on Adobe Systems to $235.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Vetr lowered Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $198.52 target price for the company. in a report on Monday, December 18th. Barclays lifted their target price on Adobe Systems from $193.00 to $221.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Finally, Stephens reiterated a “buy” rating and issued a $210.00 target price on shares of Adobe Systems in a report on Wednesday, January 3rd. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $201.26.
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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