Adobe Systems Incorporated (ADBE) Holdings Increased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC grew its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,784 shares of the software company’s stock after acquiring an additional 219 shares during the period. Checchi Capital Advisers LLC’s holdings in Adobe Systems were worth $1,291,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Pioneer Trust Bank N A OR boosted its position in shares of Adobe Systems by 8.0% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 2,700 shares of the software company’s stock worth $658,000 after purchasing an additional 200 shares in the last quarter. RB Capital Management LLC boosted its position in shares of Adobe Systems by 4.7% during the 2nd quarter. RB Capital Management LLC now owns 4,416 shares of the software company’s stock worth $1,077,000 after purchasing an additional 200 shares in the last quarter. Violich Capital Management Inc. boosted its position in shares of Adobe Systems by 6.8% during the 2nd quarter. Violich Capital Management Inc. now owns 3,125 shares of the software company’s stock worth $762,000 after purchasing an additional 200 shares in the last quarter. Andra AP fonden boosted its position in shares of Adobe Systems by 0.7% during the 3rd quarter. Andra AP fonden now owns 27,700 shares of the software company’s stock worth $7,478,000 after purchasing an additional 200 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in shares of Adobe Systems by 1.6% during the 2nd quarter. Wetherby Asset Management Inc. now owns 13,344 shares of the software company’s stock worth $3,254,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

In other news, EVP Ann Lewnes sold 2,910 shares of the firm’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $261.21, for a total value of $760,121.10. Following the completion of the transaction, the executive vice president now directly owns 55,647 shares of the company’s stock, valued at $14,535,552.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 8,790 shares of company stock valued at $2,303,462 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Shares of NASDAQ ADBE opened at $239.75 on Tuesday. Adobe Systems Incorporated has a fifty-two week low of $165.68 and a fifty-two week high of $277.61. The stock has a market capitalization of $119.98 billion, a P/E ratio of 66.78, a price-to-earnings-growth ratio of 2.65 and a beta of 1.08. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, sell-side analysts expect that Adobe Systems Incorporated will post 5.66 earnings per share for the current year.

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Adobe Systems to $297.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 12th. KeyCorp reissued a “buy” rating and set a $286.00 price objective (up previously from $276.00) on shares of Adobe Systems in a research report on Friday, September 14th. Credit Suisse Group increased their price objective on shares of Adobe Systems from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. Guggenheim assumed coverage on shares of Adobe Systems in a research report on Tuesday, August 7th. They set a “neutral” rating and a $275.00 price objective on the stock. Finally, BidaskClub raised shares of Adobe Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $269.17.

Adobe Systems Profile

Adobe Inc 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. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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

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