Adobe Systems Incorporated (ADBE) Shares Bought by Capital Analysts LLC
Capital Analysts LLC grew its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,697 shares of the software company’s stock after purchasing an additional 378 shares during the period. Capital Analysts LLC’s holdings in Adobe Systems were worth $3,352,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of ADBE. Clean Yield Group purchased a new position in shares of Adobe Systems during the first quarter valued at about $100,000. Capital Advisors Ltd. LLC purchased a new position in shares of Adobe Systems during the second quarter valued at about $100,000. CWM LLC grew its position in shares of Adobe Systems by 11.8% during the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after purchasing an additional 79 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Adobe Systems during the first quarter valued at about $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in shares of Adobe Systems by 86.2% during 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 purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.
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A number of research analysts have recently weighed in on the company. Bank of America Corporation restated a “buy” rating and set a $184.00 price objective (up previously from $160.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Robert W. Baird restated a “buy” rating and set a $160.00 price objective on shares of Adobe Systems in a research report on Friday, September 1st. Pivotal Research lowered Adobe Systems from a “hold” rating to a “sell” rating and raised their price objective for the company from $109.00 to $112.00 in a research report on Monday, June 12th. Zacks Investment Research lowered Adobe Systems from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $150.30 price objective for the company in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $153.88.
In related news, EVP Donna Morris sold 5,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $145.00, for a total transaction of $725,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Warnock sold 32,600 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,317,798.16. The disclosure for this sale can be found here. Insiders have sold a total of 101,959 shares of company stock valued at $14,870,874 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.
Shares of Adobe Systems Incorporated (ADBE) opened at 154.94 on Friday. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89. The stock’s 50 day moving average is $150.82 and its 200 day moving average is $139.09. The company has a market cap of $76.45 billion, a P/E ratio of 53.97 and a beta of 1.00.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the company posted $0.71 EPS. On average, analysts predict that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.
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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