Guggenheim Capital LLC increased its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 700,359 shares of the software company’s stock after acquiring an additional 105,208 shares during the period. Adobe Systems comprises about 0.3% of Guggenheim Capital LLC’s investment portfolio, making the stock its 23rd biggest holding. Guggenheim Capital LLC’s holdings in Adobe Systems were worth $122,732,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Grove Bank & Trust grew its holdings in shares of Adobe Systems by 14.9% in the third quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock worth $678,000 after acquiring an additional 591 shares during the period. Bluestein R H & Co. purchased a new position in Adobe Systems during the third quarter valued at $2,812,000. Great West Life Assurance Co. Can lifted its position in Adobe Systems by 13.0% during the third quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock valued at $76,120,000 after purchasing an additional 59,670 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in Adobe Systems by 12.1% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 770,857 shares of the software company’s stock valued at $114,996,000 after purchasing an additional 83,265 shares in the last quarter. Finally, Breton Hill Capital Ltd. lifted its position in Adobe Systems by 20.0% during the third quarter. Breton Hill Capital Ltd. now owns 5,912 shares of the software company’s stock valued at $882,000 after purchasing an additional 987 shares in the last quarter. 86.45% of the stock is owned by institutional investors.
In other news, Director Amy Banse bought 1,125 shares of Adobe Systems stock in a transaction dated Monday, December 18th. The shares were purchased at an average cost of $177.35 per share, with a total value of $199,518.75. Following the completion of the acquisition, the director now owns 31,453 shares of the company’s stock, valued at approximately $5,578,189.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total value of $338,845.50. Following the completion of the sale, the executive vice president now directly owns 50,497 shares in the company, valued at $8,761,229.50. The disclosure for this sale can be found here. Insiders sold 351,199 shares of company stock worth $67,326,422 over the last ninety days. Insiders own 0.38% of the company’s stock.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. research analysts anticipate that Adobe Systems Incorporated will post 5.12 EPS for the current fiscal year.
Several equities analysts recently weighed in on ADBE shares. Cowen reiterated a “buy” rating and set a $200.00 target price on shares of Adobe Systems in a research report on Monday, December 11th. Pivotal Research reiterated a “hold” rating and set a $162.00 target price (up from $160.00) on shares of Adobe Systems in a research report on Friday, December 15th. Vetr upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 target price on the stock in a research report on Tuesday, December 5th. Sanford C. Bernstein lifted their target price on Adobe Systems from $208.00 to $223.00 and gave the company an “outperform” rating in a research report on Tuesday, January 23rd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $220.00 target price (up from $195.00) on shares of Adobe Systems in a research report on Tuesday, January 23rd. Eight investment 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $198.94.
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About Adobe Systems
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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