Marshall Wace LLP reduced its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,856 shares of the software company’s stock after selling 35 shares during the quarter. Marshall Wace LLP’s holdings in Adobe Systems were worth $544,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Clean Yield Group purchased a new stake in shares of Adobe Systems during the 1st quarter valued at $100,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Adobe Systems during the 2nd quarter valued at $100,000. CWM LLC raised its position in shares of Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after buying an additional 79 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Adobe Systems during the 1st quarter valued at $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Adobe Systems by 86.2% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Adobe Systems from a “hold” rating to a “sell” rating in a report on Thursday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $180.00 target price on shares of Adobe Systems in a report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $175.00 target price on shares of Adobe Systems in a report on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Adobe Systems in a report on Tuesday. Finally, Moffett Nathanson initiated coverage on shares of Adobe Systems in a report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Adobe Systems has a consensus rating of “Buy” and an average target price of $153.88.
In other news, EVP Donna Morris sold 5,000 shares of Adobe Systems stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $145.00, for a total value of $725,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.00, for a total value of $281,232.00. Following the completion of the transaction, the executive vice president now owns 59,991 shares of the company’s stock, valued at approximately $8,638,704. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,959 shares of company stock valued at $14,870,874. 0.38% of the stock is owned by insiders.
Adobe Systems Incorporated (NASDAQ ADBE) opened at 154.94 on Friday. The firm has a market capitalization of $76.45 billion, a P/E ratio of 53.97 and a beta of 1.00. The stock’s 50 day moving average price is $150.82 and its 200-day moving average price is $139.09. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $157.89.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business posted $0.71 EPS. The company’s revenue was up 26.7% on a year-over-year basis. On average, analysts forecast that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.
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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