Adobe Systems (ADBE) Shares Bought by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC lifted its stake in shares of Adobe Systems (NASDAQ:ADBE) by 10.9% in the 1st quarter, Holdings Channel reports. The firm owned 4,920 shares of the software company’s stock after buying an additional 483 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Adobe Systems were worth $1,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Tiverton Asset Management LLC boosted its holdings in Adobe Systems by 1.1% in the 1st quarter. Tiverton Asset Management LLC now owns 103,198 shares of the software company’s stock worth $22,299,000 after buying an additional 1,094 shares during the period. Fieldpoint Private Securities LLC boosted its holdings in Adobe Systems by 3,435.0% in the 1st quarter. Fieldpoint Private Securities LLC now owns 7,070 shares of the software company’s stock worth $1,528,000 after buying an additional 6,870 shares during the period. Burney Co. bought a new position in Adobe Systems in the 1st quarter worth approximately $217,000. Waratah Capital Advisors Ltd. boosted its holdings in Adobe Systems by 103.3% in the 1st quarter. Waratah Capital Advisors Ltd. now owns 14,833 shares of the software company’s stock worth $3,205,000 after buying an additional 7,538 shares during the period. Finally, LA Financiere DE L Echiquier boosted its holdings in Adobe Systems by 82.0% in the 1st quarter. LA Financiere DE L Echiquier now owns 82,109 shares of the software company’s stock worth $17,742,000 after buying an additional 37,000 shares during the period. Institutional investors own 86.80% of the company’s stock.

Several research analysts have commented on ADBE shares. Zacks Investment Research downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Argus raised their price target on shares of Adobe Systems from $195.00 to $234.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Royal Bank of Canada raised their price target on shares of Adobe Systems to $235.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. JMP Securities downgraded shares of Adobe Systems from an “outperform” rating to a “market perform” rating in a report on Monday, March 26th. Finally, Citigroup raised their price target on shares of Adobe Systems to $250.00 and gave the company a “buy” rating in a report on Friday, March 16th. Ten analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Adobe Systems has an average rating of “Buy” and a consensus target price of $219.50.

In related news, Director John E. Warnock sold 14,000 shares of Adobe Systems stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $216.53, for a total value of $3,031,420.00. Following the transaction, the director now owns 16,088 shares in the company, valued at approximately $3,483,534.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ann Lewnes sold 2,942 shares of Adobe Systems stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $236.59, for a total transaction of $696,047.78. Following the completion of the transaction, the executive vice president now owns 70,322 shares in the company, valued at approximately $16,637,481.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,819 shares of company stock worth $10,451,729. 0.33% of the stock is owned by corporate insiders.

Shares of Adobe Systems opened at $236.85 on Friday, Marketbeat.com reports. The firm has a market capitalization of $116.91 billion, a P/E ratio of 58.76, a price-to-earnings-growth ratio of 2.74 and a beta of 1.04. Adobe Systems has a 52 week low of $235.84 and a 52 week high of $237.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.12 and a current ratio of 2.12.

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

Adobe Systems Company Profile

Adobe Systems Incorporated 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. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems (NASDAQ:ADBE).

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

Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Ferrellgas Partners, L.P.  Expected to Announce Earnings of $0.26 Per Share
Ferrellgas Partners, L.P. Expected to Announce Earnings of $0.26 Per Share
TPI Composites  Expected to Post Earnings of -$0.01 Per Share
TPI Composites Expected to Post Earnings of -$0.01 Per Share
PROUD Money  24 Hour Trading Volume Reaches $202.00
PROUD Money 24 Hour Trading Volume Reaches $202.00
Qvolta  Hits One Day Volume of $14,520.00
Qvolta Hits One Day Volume of $14,520.00
CDTi Advanced Materials  Trading Down 0%
CDTi Advanced Materials Trading Down 0%
Veeco Instruments Inc.  Shares Bought by Hosking Partners LLP
Veeco Instruments Inc. Shares Bought by Hosking Partners LLP


Leave a Reply

© 2006-2018 Ticker Report. Google+.