Avestar Capital LLC Purchases New Holdings in Adobe Systems Incorporated (ADBE)

Avestar Capital LLC purchased a new stake in Adobe Systems Incorporated (NASDAQ:ADBE) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 708 shares of the software company’s stock, valued at approximately $109,000.

Several other large investors have also recently added to or reduced their stakes in ADBE. Cerebellum GP LLC purchased a new position in shares of Adobe Systems in the 4th quarter valued at approximately $118,000. Community Bank N.A. purchased a new position in shares of Adobe Systems in the 4th quarter valued at approximately $122,000. BB&T Investment Services Inc. raised its position 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. Truewealth LLC purchased a new position in shares of Adobe Systems in the 4th quarter valued at approximately $162,000. Finally, Cibc Bank USA purchased a new position in shares of Adobe Systems in the 4th quarter valued at approximately $202,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

Adobe Systems Incorporated (NASDAQ ADBE) opened at $219.76 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market cap of $108,410.00, a P/E ratio of 65.02, a PEG ratio of 2.70 and a beta of 1.10. Adobe Systems Incorporated has a 1-year low of $120.62 and a 1-year high of $224.90.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. sell-side analysts anticipate that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.

Several equities analysts recently commented on ADBE shares. Zacks Investment Research lowered shares of Adobe Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Royal Bank of Canada increased their price objective on shares of Adobe Systems to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Vetr lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $198.52 price objective for the company. in a research report on Monday, December 18th. Barclays increased their price objective on shares of Adobe Systems from $193.00 to $221.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Finally, Stephens reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Adobe Systems in a research report on Wednesday, January 3rd. Eight research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Adobe Systems presently has a consensus rating of “Buy” and an average target price of $201.26.

In other news, Chairman Shantanu Narayen sold 165,023 shares of Adobe Systems stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $197.89, for a total transaction of $32,656,401.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Banse bought 1,125 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average cost of $177.35 per share, with a total value of $199,518.75. Following the completion of the acquisition, the director now owns 31,453 shares in the company, valued at $5,578,189.55. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 349,246 shares of company stock valued at $66,987,577. Insiders own 0.33% of the company’s stock.

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

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