Handelsbanken Fonder AB Has $17.52 Million Position in Adobe Systems Incorporated (ADBE)

Handelsbanken Fonder AB decreased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 9.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 100,000 shares of the software company’s stock after selling 10,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Adobe Systems were worth $17,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Avestar Capital LLC purchased a new stake in Adobe Systems in the 4th quarter worth $109,000. Cerebellum GP LLC purchased a new stake in Adobe Systems in the 4th quarter worth $118,000. Community Bank N.A. purchased a new stake in Adobe Systems in the 4th quarter worth $122,000. BB&T Investment Services Inc. lifted its stake in Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after purchasing an additional 275 shares in the last quarter. Finally, Truewealth LLC purchased a new stake in Adobe Systems in the 4th quarter worth $162,000. Institutional investors own 87.02% of the company’s stock.

Adobe Systems Incorporated (ADBE) opened at $220.50 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.12 and a quick ratio of 2.05. The company has a market cap of $111,912.70, a PE ratio of 58.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. Adobe Systems Incorporated has a one year low of $126.36 and a one year high of $231.34.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, March 15th. The software company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.11. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.43) EPS. sell-side analysts anticipate that Adobe Systems Incorporated will post 5.35 earnings per share for the current fiscal year.

ADBE has been the topic of several research analyst reports. Bank of America reiterated a “buy” rating and issued a $220.00 price target (up previously from $213.00) on shares of Adobe Systems in a research note on Wednesday, December 13th. Zacks Investment Research cut shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Argus boosted their price target on shares of Adobe Systems from $195.00 to $234.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Royal Bank of Canada boosted their price target on shares of Adobe Systems to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Finally, Barclays boosted their price target on shares of Adobe Systems to $193.00 and gave the stock an “overweight” rating in a research note on Friday, December 15th. Nine 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. The stock presently has an average rating of “Buy” and a consensus target price of $214.06.

In other Adobe Systems news, Director Robert K. Burgess sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $175.39, for a total value of $4,384,750.00. Following the transaction, the director now directly owns 12,375 shares in the company, valued at approximately $2,170,451.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Warnock sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $224.94, for a total transaction of $1,124,700.00. Following the completion of the transaction, the director now owns 16,088 shares in the company, valued at $3,618,834.72. The disclosure for this sale can be found here. Insiders sold a total of 352,586 shares of company stock worth $67,967,495 over the last 90 days. Insiders own 0.33% of the company’s stock.

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Adobe Systems 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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