Gradient Investments LLC increased its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 16.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,946 shares of the software company’s stock after buying an additional 414 shares during the period. Gradient Investments LLC’s holdings in Adobe Systems were worth $516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Cerebellum GP LLC acquired a new position in Adobe Systems in the 4th quarter valued at $118,000. Community Bank N.A. purchased a new stake in shares of Adobe Systems in the 4th quarter worth about $122,000. Parkside Financial Bank & Trust boosted its position 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 worth $135,000 after buying an additional 567 shares in the last quarter. BB&T Investment Services Inc. boosted 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 worth $138,000 after buying an additional 275 shares in the last quarter. Finally, Exane Derivatives boosted its position in shares of Adobe Systems by 55.0% in the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after buying an additional 340 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on ADBE shares. Barclays boosted their price objective on shares of Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, October 19th. Vetr lowered shares of Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 price objective on the stock. in a research report on Thursday, October 19th. Cowen reiterated a “buy” rating and issued a $200.00 price objective on shares of Adobe Systems in a research report on Monday, December 11th. Oppenheimer reiterated an “outperform” rating and issued a $190.00 price objective (up from $153.00) on shares of Adobe Systems in a research report on Thursday, October 19th. Finally, Pivotal Research reiterated a “hold” rating and issued a $162.00 price objective (up from $160.00) on shares of Adobe Systems in a research report on Friday, December 15th. Nine research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Adobe Systems has a consensus rating of “Buy” and an average target price of $197.79.

In other news, CFO Mark Garrett sold 54,488 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $187.38, for a total transaction of $10,209,961.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Banse acquired 1,125 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were bought at an average price of $177.35 per share, for a total transaction 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 quarter, insiders have sold 351,199 shares of company stock worth $67,326,422. Insiders own 0.38% of the company’s stock.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at $192.15 on Tuesday. The firm has a market cap of $92,411.84, a PE ratio of 56.68, a PEG ratio of 2.30 and a beta of 1.18. Adobe Systems Incorporated has a 1-year low of $116.20 and a 1-year high of $204.45. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The business had revenue of $2.01 billion for 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 company’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. research analysts anticipate that Adobe Systems Incorporated will post 5.12 earnings per share for the current year.

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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.

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

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