Vontobel Asset Management Inc. Boosts Position in Adobe Systems Incorporated (NASDAQ:ADBE)
Vontobel Asset Management Inc. boosted its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 44.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190,260 shares of the software company’s stock after buying an additional 58,562 shares during the period. Vontobel Asset Management Inc.’s holdings in Adobe Systems were worth $26,910,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the stock. Murphy Capital Management Inc. bought a new stake in shares of Adobe Systems during the first quarter valued at about $244,000. Regentatlantic Capital LLC boosted its stake in shares of 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. Ipswich Investment Management Co. Inc. bought a new stake in shares of Adobe Systems during the first quarter valued at about $241,000. Capstone Asset Management Co. boosted its stake in shares of Adobe Systems by 1.1% in the first quarter. Capstone Asset Management Co. now owns 44,896 shares of the software company’s stock valued at $5,842,000 after buying an additional 473 shares during the period. Finally, Inverness Counsel LLC NY boosted its stake in shares of Adobe Systems by 1.1% in the first quarter. Inverness Counsel LLC NY now owns 320,388 shares of the software company’s stock valued at $41,452,000 after buying an additional 3,425 shares during the period. 88.05% of the stock is currently owned by institutional investors.
Adobe Systems Incorporated (NASDAQ:ADBE) traded up 1.07% during mid-day trading on Friday, reaching $146.47. The company had a trading volume of 1,382,926 shares. The firm has a market capitalization of $72.27 billion, a price-to-earnings ratio of 51.02 and a beta of 1.00. The firm has a 50-day moving average price of $145.74 and a 200 day moving average price of $133.08. Adobe Systems Incorporated has a 12-month low of $97.87 and a 12-month high of $150.40.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.07. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. Analysts expect that Adobe Systems Incorporated will post $4.06 EPS for the current year.
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Several equities research analysts recently issued reports on ADBE shares. Stifel Nicolaus reiterated a “buy” rating on shares of Adobe Systems in a research note on Tuesday, April 18th. Guggenheim reiterated a “buy” rating and issued a $155.00 price target on shares of Adobe Systems in a research note on Tuesday, April 18th. Barclays PLC started coverage on Adobe Systems in a research note on Tuesday, May 2nd. They issued an “overweight” rating and a $155.00 price target for the company. Royal Bank Of Canada boosted their price target on Adobe Systems from $135.00 to $157.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Finally, Vetr cut Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price target for the company. in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $154.20.
In other Adobe Systems news, CMO Ann Lewnes sold 1,953 shares of the business’s 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director John E. Warnock sold 32,600 shares of the business’s 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 directly owns 16,088 shares of the company’s stock, valued at $2,317,798.16. The disclosure for this sale can be found here. Insiders sold 102,239 shares of company stock valued at $14,877,475 over the last three months. 0.38% of the stock is currently 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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