Duncker Streett & Co. Inc. Continues to Hold Position in Adobe Systems Incorporated (ADBE)
Duncker Streett & Co. Inc. continued to hold its stake in Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,000 shares of the software company’s stock at the end of the second quarter. Duncker Streett & Co. Inc.’s holdings in Adobe Systems were worth $141,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Westwood Management Corp IL bought a new stake in Adobe Systems during the second quarter valued at about $1,924,000. Wright Investors Service Inc. bought a new stake in Adobe Systems during the second quarter valued at about $463,000. Schmidt P J Investment Management Inc. bought a new stake in Adobe Systems during the second quarter valued at about $215,000. Manning & Napier Advisors LLC bought a new stake in Adobe Systems during the second quarter valued at about $28,925,000. Finally, BB&T Corp boosted its stake in Adobe Systems by 12.1% in the second quarter. BB&T Corp now owns 33,851 shares of the software company’s stock valued at $4,788,000 after buying an additional 3,648 shares during the last quarter. Hedge funds and other institutional investors own 88.05% of the company’s stock.
Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.08% during mid-day trading on Wednesday, reaching $147.93. 531,343 shares of the company were exchanged. The stock’s 50-day moving average price is $144.91 and its 200-day moving average price is $131.74. The stock has a market capitalization of $72.99 billion, a price-to-earnings ratio of 51.53 and a beta of 1.00. Adobe Systems Incorporated has a 1-year low of $97.87 and a 1-year high of $150.40.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business posted $0.71 EPS. Adobe Systems’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, equities research analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.
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Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $157.00 price objective on shares of Adobe Systems in a research report on Monday, July 31st. Vetr upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 price objective on the stock in a research report on Tuesday, July 18th. BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Adobe Systems in a research report on Monday, June 26th. Finally, KeyCorp reiterated a “buy” rating on shares of Adobe Systems in a research report on Sunday, June 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $153.20.
In related news, EVP Donna Morris sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total value of $311,034.57. Following the transaction, the executive vice president now owns 61,944 shares of the company’s stock, valued at $8,628,179.76. The disclosure for this sale can be found here. Insiders have sold a total of 100,286 shares of company stock valued at $14,591,009 over the last 90 days. 0.38% of the stock is currently owned by company insiders.
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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