Dynamic Advisors Solutions LLC Has $547,000 Position in Adobe Systems Incorporated (NASDAQ:ADBE)
Dynamic Advisors Solutions LLC raised its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 15.5% during the second quarter, Holdings Channel reports. The fund owned 3,864 shares of the software company’s stock after buying an additional 518 shares during the period. Dynamic Advisors Solutions LLC’s holdings in Adobe Systems were worth $547,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Murphy Capital Management Inc. acquired a new stake in Adobe Systems during the first quarter worth $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 worth $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 worth $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 worth $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 worth $211,367,000 after buying an additional 557,169 shares during the period. 88.05% of the stock is currently owned by institutional investors and hedge funds.
Adobe Systems Incorporated (NASDAQ:ADBE) traded up 1.17% on Friday, reaching $146.62. 598,523 shares of the company were exchanged. Adobe Systems Incorporated has a 12-month low of $97.87 and a 12-month high of $150.40. The stock has a market capitalization of $72.34 billion, a P/E ratio of 51.07 and a beta of 1.00. The company’s 50-day moving average price is $145.66 and its 200-day moving average price is $132.82.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. Adobe Systems’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. Equities research analysts anticipate that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.
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A number of equities analysts have commented on ADBE shares. Morgan Stanley restated an “equal weight” rating and issued a $137.00 price target on shares of Adobe Systems in a research report on Friday, June 16th. Royal Bank Of Canada upped their target price on shares of Adobe Systems from $135.00 to $157.00 and gave the stock an “outperform” rating in a research report on Thursday, May 25th. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. BMO Capital Markets reiterated an “outperform” rating and set a $160.00 target price (up from $140.00) on shares of Adobe Systems in a research report on Friday, June 9th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $150.00 target price on shares of Adobe Systems in a research report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. Adobe Systems currently has an average rating of “Buy” and an average price target of $154.20.
In other news, EVP Abhay Parasnis sold 12,500 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $149.38, for a total value of $1,867,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,239 shares of company stock valued at $14,877,475. Company 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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