Achmea Investment Management B.V. grew its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,880 shares of the software company’s stock after purchasing an additional 641 shares during the period. Achmea Investment Management B.V.’s holdings in Adobe Systems were worth $9,683,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Adobe Systems during the second quarter valued at approximately $107,000. Psagot Investment House Ltd. purchased a new stake in shares of Adobe Systems during the third quarter valued at approximately $130,000. JNBA Financial Advisors raised its stake in shares of Adobe Systems by 4,366.7% during the third quarter. JNBA Financial Advisors now owns 536 shares of the software company’s stock valued at $145,000 after purchasing an additional 524 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of Adobe Systems during the second quarter worth approximately $170,000. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in shares of Adobe Systems during the second quarter worth approximately $177,000. Institutional investors own 85.06% of the company’s stock.
Shares of NASDAQ ADBE opened at $244.84 on Friday. Adobe Systems Incorporated has a fifty-two week low of $165.68 and a fifty-two week high of $277.61. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21. The stock has a market cap of $117.43 billion, a P/E ratio of 68.20, a P/E/G ratio of 2.59 and a beta of 1.15.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. As a group, analysts predict that Adobe Systems Incorporated will post 5.66 earnings per share for the current fiscal year.
In related news, EVP Ann Lewnes sold 2,910 shares of Adobe Systems stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $261.21, for a total transaction of $760,121.10. Following the sale, the executive vice president now directly owns 55,647 shares in the company, valued at $14,535,552.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bradley Rencher sold 12,000 shares of Adobe Systems stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $245.30, for a total transaction of $2,943,600.00. Following the sale, the executive vice president now owns 68,071 shares in the company, valued at $16,697,816.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,790 shares of company stock worth $5,247,062. Company insiders own 0.33% of the company’s stock.
ADBE has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $305.00 price target for the company in a research report on Thursday, October 4th. BidaskClub downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Guggenheim initiated coverage on shares of Adobe Systems in a research report on Tuesday, August 7th. They set a “neutral” rating and a $275.00 price target for the company. Credit Suisse Group raised their price target on shares of Adobe Systems from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. Finally, KeyCorp reissued a “buy” rating and set a $286.00 price target (up previously from $276.00) on shares of Adobe Systems in a research report on Friday, September 14th. Ten investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $271.04.
Adobe Systems Company Profile
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.
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