Adobe Systems Incorporated (ADBE) is Crestwood Capital Management L.P.’s 6th Largest Position
Crestwood Capital Management L.P. lifted its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,090 shares of the software company’s stock after acquiring an additional 7,290 shares during the period. Adobe Systems accounts for about 5.8% of Crestwood Capital Management L.P.’s portfolio, making the stock its 6th biggest holding. Crestwood Capital Management L.P.’s holdings in Adobe Systems were worth $10,754,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC bought a new position in Adobe Systems during the second quarter valued at approximately $100,000. Parkside Financial Bank & Trust boosted its stake in Adobe Systems by 170.3% during the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after buying an additional 567 shares during the last quarter. BB&T Investment Services Inc. boosted its stake in Adobe Systems by 42.4% during the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after buying an additional 275 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Adobe Systems during the second quarter valued at approximately $141,000. Finally, Acrospire Investment Management LLC boosted its stake in Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the last quarter. 87.45% of the stock is owned by hedge funds and other institutional investors.
ADBE has been the subject of a number of research reports. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Jefferies Group initiated coverage on Adobe Systems in a research note on Thursday, August 24th. They issued a “buy” rating and a $175.00 price objective for the company. Bank of America raised their price objective on Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, August 25th. Vetr lowered Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective for the company. in a research note on Thursday, August 31st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Adobe Systems in a research note on Friday, September 1st. Five research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $176.50.
In other news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Matthew Thompson sold 2,190 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,849 shares of company stock worth $2,519,679. Company insiders own 0.38% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at $168.44 on Tuesday. 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 fifty-two week low of $100.16 and a fifty-two week high of $186.27. The firm has a market capitalization of $88,493.13, a P/E ratio of 54.07, a PEG ratio of 2.27 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share 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 firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. research analysts anticipate that Adobe Systems Incorporated will post 3.46 EPS for the current year.
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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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