Adobe Systems Incorporated (NASDAQ:ADBE) Stake Held by Oxbow Advisors LLC
Oxbow Advisors LLC maintained its position in Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, Holdings Channel reports. The institutional investor owned 1,629 shares of the software company’s stock at the end of the second quarter. Oxbow Advisors LLC’s holdings in Adobe Systems were worth $230,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Murphy Capital Management Inc. bought a new position in Adobe Systems during the first quarter valued at approximately $244,000. BTIM Corp. raised its position in Adobe Systems by 2.5% in the first quarter. BTIM Corp. now owns 6,698 shares of the software company’s stock valued at $872,000 after buying an additional 162 shares during the period. Ameriprise Financial Inc. raised its position in Adobe Systems by 7.0% in the first quarter. Ameriprise Financial Inc. now owns 5,332,348 shares of the software company’s stock valued at $693,890,000 after buying an additional 349,088 shares during the period. Regentatlantic Capital LLC raised its position in Adobe Systems by 3.4% in the first quarter. Regentatlantic Capital LLC now owns 12,463 shares of the software company’s stock valued at $1,622,000 after buying an additional 404 shares during the period. Finally, Morgan Stanley raised its position in Adobe Systems by 52.2% in the first quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock valued at $211,367,000 after buying an additional 557,169 shares during the period. 88.05% of the stock is currently owned by institutional investors.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) traded down 1.951% during midday trading on Thursday, reaching $145.455. The company had a trading volume of 706,139 shares. The company has a market capitalization of $71.77 billion, a P/E ratio of 50.664 and a beta of 1.00. The firm’s 50 day moving average price is $145.64 and its 200-day moving average price is $132.74. Adobe Systems Incorporated has a 12 month low of $97.87 and a 12 month high of $150.40.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. Adobe Systems’s revenue was up 26.7% compared to the same quarter last year. Analysts anticipate that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.
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Several research analysts have commented on ADBE shares. Morgan Stanley reissued an “equal weight” rating and issued a $137.00 price objective on shares of Adobe Systems in a research report on Friday, June 16th. Royal Bank Of Canada raised their price objective on Adobe Systems from $135.00 to $157.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. BMO Capital Markets reissued an “outperform” rating and issued a $160.00 price objective (up from $140.00) on shares of Adobe Systems in a research report on Friday, June 9th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $150.00 price objective on shares of Adobe Systems in a research report on Tuesday, June 20th. One research 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 company. Adobe Systems currently has a consensus rating of “Buy” and a consensus price target of $153.20.
In other news, EVP Ann Lewnes sold 2,233 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total transaction of $311,034.57. Following the sale, the executive vice president now directly owns 61,944 shares of the company’s stock, valued at $8,628,179.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Warnock sold 32,600 shares of the 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 sale, the director now directly owns 16,088 shares in the company, valued at $2,317,798.16. The disclosure for this sale can be found here. Insiders have sold 102,239 shares of company stock worth $14,877,475 over the last three months. 0.38% of the stock is owned by 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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