The Adobe Systems Incorporated (ADBE) Stake Reduced by Barometer Capital Management Inc.

The Adobe Systems Incorporated (ADBE) Stake Reduced by Barometer Capital Management Inc.

Barometer Capital Management Inc. decreased its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 89.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the software company’s stock after selling 53,100 shares during the period. Barometer Capital Management Inc.’s holdings in Adobe Systems were worth $618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in shares of Adobe Systems by 6.6% in the second quarter. FMR LLC now owns 36,342,447 shares of the software company’s stock worth $3,481,242,000 after buying an additional 2,249,163 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Adobe Systems by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 15,555,000 shares of the software company’s stock worth $1,490,013,000 after buying an additional 211,475 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Adobe Systems by 7.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 14,229,808 shares of the software company’s stock worth $1,544,503,000 after buying an additional 1,033,724 shares during the period. Janus Capital Management LLC raised its stake in shares of Adobe Systems by 19.9% in the second quarter. Janus Capital Management LLC now owns 13,353,901 shares of the software company’s stock worth $1,279,159,000 after buying an additional 2,215,100 shares during the period. Finally, BlackRock Fund Advisors raised its stake in shares of Adobe Systems by 1.7% in the third quarter. BlackRock Fund Advisors now owns 7,625,121 shares of the software company’s stock worth $827,631,000 after buying an additional 126,962 shares during the period. Hedge funds and other institutional investors own 86.24% of the company’s stock.

Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.73% during mid-day trading on Wednesday, reaching $108.79. The company had a trading volume of 2,537,255 shares. The firm has a 50-day moving average price of $105.02 and a 200 day moving average price of $103.48. Adobe Systems Incorporated has a 12-month low of $71.27 and a 12-month high of $111.09. The firm has a market capitalization of $53.92 billion, a price-to-earnings ratio of 46.89 and a beta of 1.07.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, December 15th. The software company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.04. Adobe Systems had a net margin of 19.96% and a return on equity of 17.23%. The firm earned $1.61 billion during the quarter. During the same period in the previous year, the business earned $0.62 earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. Analysts expect that Adobe Systems Incorporated will post $3.82 EPS for the current year.

A number of analysts recently issued reports on ADBE shares. Vetr downgraded Adobe Systems from a “hold” rating to a “sell” rating and set a $105.68 target price on the stock. in a research report on Monday, October 10th. Pivotal Research reaffirmed a “hold” rating and issued a $104.00 target price (down previously from $136.00) on shares of Adobe Systems in a research report on Thursday, January 12th. Pacific Crest reaffirmed an “overweight” rating on shares of Adobe Systems in a research report on Saturday, January 7th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $114.00 target price (up previously from $113.00) on shares of Adobe Systems in a research report on Tuesday, January 10th. Finally, Wunderlich reaffirmed a “hold” rating and issued a $115.00 target price on shares of Adobe Systems in a research report on Tuesday, January 10th. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and an average target price of $115.52.

In other Adobe Systems news, Chairman John E. Warnock sold 6,000 shares of the firm’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $105.41, for a total value of $632,460.00. Following the completion of the transaction, the chairman now directly owns 16,088 shares of the company’s stock, valued at approximately $1,695,836.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles M. Geschke sold 48,100 shares of the firm’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $104.03, for a total transaction of $5,003,843.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

Adobe Systems Company 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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