Handelsbanken Fonder AB continued to hold its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,000 shares of the software company’s stock at the end of the second quarter. Handelsbanken Fonder AB’s holdings in Adobe Systems were worth $16,973,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FMR LLC raised its stake in shares of Adobe Systems by 0.4% in the first quarter. FMR LLC now owns 33,995,506 shares of the software company’s stock worth $4,423,835,000 after buying an additional 139,986 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Adobe Systems by 2.9% in the first quarter. Vanguard Group Inc. now owns 33,055,251 shares of the software company’s stock worth $4,301,480,000 after buying an additional 937,118 shares in the last quarter. BlackRock Inc. raised its stake in shares of Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after buying an additional 30,228,013 shares in the last quarter. State Street Corp raised its stake in shares of Adobe Systems by 1.2% in the first quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock worth $2,539,679,000 after buying an additional 234,270 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Adobe Systems by 7.0% in the first quarter. Ameriprise Financial Inc. now owns 5,332,348 shares of the software company’s stock worth $693,890,000 after buying an additional 349,088 shares in the last quarter. Institutional investors own 88.05% of the company’s stock.

Shares of Adobe Systems Incorporated (ADBE) traded down 0.90% during midday trading on Tuesday, hitting $147.11. 402,202 shares of the stock traded hands. Adobe Systems Incorporated has a one year low of $97.15 and a one year high of $150.40. The stock has a market cap of $72.58 billion, a price-to-earnings ratio of 51.24 and a beta of 1.00. The firm has a 50-day moving average price of $144.12 and a 200 day moving average price of $131.39.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business posted $0.71 EPS. Adobe Systems’s revenue was up 26.7% on a year-over-year basis. Analysts anticipate that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.

WARNING: “Handelsbanken Fonder AB Has $16,973,000 Stake in Adobe Systems Incorporated (NASDAQ:ADBE)” was reported by Daily Political and is the sole property of of Daily Political. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/08/08/handelsbanken-fonder-ab-has-16973000-stake-in-adobe-systems-incorporated-nasdaqadbe.html.

Several research analysts have recently issued reports on the stock. Guggenheim reaffirmed a “buy” rating and issued a $155.00 target price on shares of Adobe Systems in a research note on Tuesday, April 18th. Stifel Nicolaus reiterated a “buy” rating on shares of Adobe Systems in a research report on Tuesday, April 18th. Vetr upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.24 price target on the stock in a research report on Wednesday, June 7th. BidaskClub downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $161.00 price target (up from $141.00) on shares of Adobe Systems in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $153.20.

In related news, Director John E. Warnock sold 32,600 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at $2,317,798.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donna Morris sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,519 shares of company stock worth $14,894,384 over the last 90 days. 0.38% of the stock is owned by insiders.

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.

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

Receive News & Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.