BlackRock Inc. trimmed its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 32,675,677 shares of the software company’s stock after selling 1,899,022 shares during the period. BlackRock Inc. owned about 0.07% of Adobe Systems worth $5,726,085,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Cerebellum GP LLC bought a new stake in shares of Adobe Systems in the 4th quarter valued at approximately $118,000. Community Bank N.A. bought a new stake in shares of Adobe Systems in the 4th quarter valued at approximately $122,000. Parkside Financial Bank & Trust lifted its stake in shares of Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after purchasing an additional 567 shares during the last quarter. BB&T Investment Services Inc. lifted its stake in shares of Adobe Systems by 42.4% in the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after purchasing an additional 275 shares during the last quarter. Finally, Exane Derivatives lifted its stake in shares of Adobe Systems by 55.0% in the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after purchasing an additional 340 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total value of $338,845.50. Following the transaction, the executive vice president now directly owns 50,497 shares in the company, valued at approximately $8,761,229.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Shantanu Narayen sold 165,023 shares of Adobe Systems stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $197.89, for a total value of $32,656,401.47. The disclosure for this sale can be found here. Insiders sold a total of 351,199 shares of company stock worth $67,326,422 over the last quarter. Company insiders own 0.38% of the company’s stock.
Adobe Systems Incorporated (NASDAQ:ADBE) opened at $201.56 on Friday. Adobe Systems Incorporated has a fifty-two week low of $117.83 and a fifty-two week high of $204.45. The stock has a market capitalization of $98,390.00, a price-to-earnings ratio of 59.46, a PEG ratio of 2.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the business posted $0.90 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. sell-side analysts anticipate that Adobe Systems Incorporated will post 5.12 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.chaffeybreeze.com/2018/02/18/blackrock-inc-has-5-73-billion-stake-in-adobe-systems-incorporated-adbe.html.
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.
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 Incorporated (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.