Hartwell J M Limited Partnership increased its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 132.5% during the second quarter, Holdings Channel reports. The firm owned 11,950 shares of the software company’s stock after buying an additional 6,810 shares during the period. Adobe Systems makes up 0.4% of Hartwell J M Limited Partnership’s investment portfolio, making the stock its 25th largest position. Hartwell J M Limited Partnership’s holdings in Adobe Systems were worth $1,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clean Yield Group bought a new position in Adobe Systems during the first quarter valued at approximately $100,000. Washington Trust Bank increased its stake in shares of Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock valued at $109,000 after buying an additional 102 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Adobe Systems during the first quarter valued at $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Adobe Systems by 86.2% in the first 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. Finally, WFG Advisors LP increased its stake in shares of Adobe Systems by 10.1% in the first quarter. WFG Advisors LP now owns 1,263 shares of the software company’s stock valued at $164,000 after buying an additional 116 shares in the last quarter. 88.05% of the stock is currently owned by institutional investors.

Adobe Systems Incorporated (NASDAQ:ADBE) traded up 1.12% during midday trading on Friday, hitting $146.54. The stock had a trading volume of 598,635 shares. Adobe Systems Incorporated has a 52 week low of $97.87 and a 52 week high of $150.40. The company has a market cap of $72.30 billion, a PE ratio of 51.04 and a beta of 1.00. The stock’s 50 day moving average price is $145.66 and its 200-day moving average price is $132.82.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The company had revenue of $1.77 billion for 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%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. Equities research analysts predict that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.

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Several analysts have recently weighed in on ADBE shares. Guggenheim restated a “buy” rating and set a $155.00 target price on shares of Adobe Systems in a research note on Tuesday, April 18th. Stifel Nicolaus restated a “buy” rating on shares of Adobe Systems in a research note on Tuesday, April 18th. BidaskClub downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Citigroup Inc. restated a “buy” rating and set a $161.00 target price (up from $141.00) on shares of Adobe Systems in a research note on Tuesday, June 13th. Finally, Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $157.24 target price for the company in a research note on Wednesday, June 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the stock. Adobe Systems presently has a consensus rating of “Buy” and a consensus target price of $154.20.

In other Adobe Systems news, CMO Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total value of $286,466.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John E. Warnock sold 32,600 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the completion of the sale, the director now owns 16,088 shares in the company, valued at $2,317,798.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,239 shares of company stock worth $14,877,475. Company insiders own 0.38% of the company’s stock.

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

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