Adobe Systems Incorporated (ADBE) Shares Sold by BTC Capital Management Inc.

BTC Capital Management Inc. reduced its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 29.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,475 shares of the software company’s stock after selling 625 shares during the quarter. BTC Capital Management Inc.’s holdings in Adobe Systems were worth $220,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC acquired a new stake in shares of Adobe Systems in the second quarter valued at approximately $100,000. CWM LLC boosted its holdings in shares of Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after acquiring an additional 79 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after acquiring an additional 567 shares during the period. Exane Derivatives boosted its holdings in shares of Adobe Systems by 55.0% in the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after acquiring an additional 340 shares during the period. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Adobe Systems in the second quarter valued at approximately $141,000. 87.45% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the company. Vetr raised Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price objective for the company in a report on Monday. UBS AG began coverage on Adobe Systems in a report on Thursday, November 9th. They issued a “buy” rating and a $217.00 price objective for the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Adobe Systems in a report on Wednesday, September 20th. Stifel Nicolaus increased their price target on Adobe Systems from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $170.00 price target (up from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Six investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $174.11.

In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total value of $304,433.64. Following the completion of the sale, the executive vice president now directly owns 56,356 shares in the company, valued at approximately $8,784,773.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The disclosure for this sale can be found here. Insiders have sold a total of 14,849 shares of company stock worth $2,519,679 over the last 90 days. 0.38% of the stock is owned by company insiders.

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Adobe Systems Incorporated (NASDAQ ADBE) traded down $0.47 during mid-day trading on Tuesday, reaching $181.38. The company’s stock had a trading volume of 303,442 shares, compared to its average volume of 2,427,474. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $184.44. The stock has a market cap of $89,080.00, a P/E ratio of 54.74, a PEG ratio of 3.09 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $0.75 EPS. Adobe Systems’s revenue for the quarter was up 25.8% compared to the same quarter last year. equities research analysts anticipate that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.

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

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