Penserra Capital Management LLC Has $3.36 Million Position in Adobe Systems Incorporated (ADBE)
Penserra Capital Management LLC boosted its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 639.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,199 shares of the software company’s stock after acquiring an additional 16,603 shares during the quarter. Penserra Capital Management LLC’s holdings in Adobe Systems were worth $3,363,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cerebellum GP LLC acquired a new stake in Adobe Systems in the 4th quarter valued at approximately $118,000. Community Bank N.A. acquired a new stake in Adobe Systems in the 4th quarter valued at approximately $122,000. Parkside Financial Bank & Trust increased its position in Adobe Systems by 170.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after acquiring an additional 567 shares during the period. BB&T Investment Services Inc. increased its position in 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 acquiring an additional 275 shares during the period. Finally, Exane Derivatives increased its position in Adobe Systems by 55.0% in the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after acquiring an additional 340 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.
Several research firms recently commented on ADBE. Barclays raised their target price on Adobe Systems from $193.00 to $221.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Piper Jaffray Companies reiterated a “buy” rating and set a $195.00 price target on shares of Adobe Systems in a research report on Thursday, October 19th. Jefferies Group lifted their price target on Adobe Systems to $205.00 and gave the company a “buy” rating in a research report on Friday, December 15th. Robert W. Baird reiterated a “buy” rating and set a $200.00 price target on shares of Adobe Systems in a research report on Friday, December 15th. Finally, KeyCorp reiterated an “overweight” rating and set a $225.00 price target (up from $220.00) on shares of Adobe Systems in a research report on Tuesday, January 23rd. Nine research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $197.79.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.10. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. analysts anticipate that Adobe Systems Incorporated will post 5.12 earnings per share for the current fiscal year.
In other news, Chairman Shantanu Narayen sold 165,023 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $197.89, for a total value of $32,656,401.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total value of $338,845.50. Following the completion of the sale, the executive vice president now directly owns 50,497 shares of the company’s stock, valued at approximately $8,761,229.50. The disclosure for this sale can be found here. Insiders sold a total of 351,199 shares of company stock worth $67,326,422 over the last 90 days. Insiders own 0.38% of the company’s stock.
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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