Adobe Systems Incorporated (ADBE) is Suvretta Capital Management LLC’s Largest Position

Suvretta Capital Management LLC increased its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,520,803 shares of the software company’s stock after purchasing an additional 12,510 shares during the quarter. Adobe Systems makes up 10.6% of Suvretta Capital Management LLC’s investment portfolio, making the stock its largest holding. Suvretta Capital Management LLC owned approximately 0.51% of Adobe Systems worth $376,053,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC increased its position in Adobe Systems by 4.9% in the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after buying an additional 1,651,762 shares during the period. BlackRock Inc. increased its position in Adobe Systems by 8.2% in the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after buying an additional 2,621,275 shares during the period. Vanguard Group Inc. increased its position in Adobe Systems by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock worth $4,808,783,000 after buying an additional 943,487 shares during the period. Janus Henderson Group PLC increased its position in Adobe Systems by 784.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after buying an additional 9,957,241 shares during the period. Finally, Polen Capital Management LLC increased its position in Adobe Systems by 3.7% in the 3rd quarter. Polen Capital Management LLC now owns 6,288,816 shares of the software company’s stock worth $938,166,000 after buying an additional 226,286 shares during the period. Hedge funds and other institutional investors own 87.45% of the company’s stock.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $173.52 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $82,587.66, a price-to-earnings ratio of 50.46, a P/E/G ratio of 2.12 and a beta of 1.05. Adobe Systems Incorporated has a one year low of $100.89 and a one year high of $186.27.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. Adobe Systems’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. equities analysts forecast that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.

Several brokerages have commented on ADBE. BidaskClub downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Vetr upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price objective on the stock in a research report on Tuesday. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $203.00 price objective on the stock in a research report on Monday. KeyCorp restated an “overweight” rating and set a $216.00 price objective (up from $178.00) on shares of Adobe Systems in a research report on Wednesday, November 22nd. Finally, Stifel Nicolaus boosted their price objective on Adobe Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $176.50.

In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is owned by insiders.

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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.

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

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