Principal Financial Group Inc. increased its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 45.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,046,471 shares of the software company’s stock after purchasing an additional 325,076 shares during the quarter. Principal Financial Group Inc. owned 0.21% of Adobe Systems worth $148,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ADBE. Capital Advisors Ltd. LLC purchased a new stake in Adobe Systems during the second quarter valued at $100,000. CWM LLC increased its position in 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 acquiring an additional 79 shares during the last quarter. Clean Yield Group purchased a new stake in Adobe Systems during the first quarter valued at $100,000. Signature Estate & Investment Advisors LLC purchased a new stake in Adobe Systems during the first quarter valued at $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in 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 acquiring an additional 500 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director John E. Warnock sold 32,600 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares in the company, valued at $2,317,798.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Rosensweig sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $143.71, for a total value of $1,580,810.00. Following the completion of the sale, the director now owns 8,801 shares of the company’s stock, valued at $1,264,791.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,959 shares of company stock valued at $14,870,874. 0.38% of the stock is owned by company insiders.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at 154.94 on Friday. The company has a market capitalization of $76.45 billion, a price-to-earnings ratio of 53.97 and a beta of 1.00. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $157.89. The company’s 50-day moving average price is $150.82 and its 200-day moving average price is $139.09.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business earned $0.71 EPS. Adobe Systems’s quarterly revenue was up 26.7% on a year-over-year basis. Equities analysts forecast that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.

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ADBE has been the subject of a number of research reports. Robert W. Baird reiterated an “outperform” rating and set a $160.00 price objective (up previously from $140.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a research report on Friday, June 23rd. Royal Bank Of Canada upped 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. Vetr cut Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective for the company. in a research report on Thursday, August 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Adobe Systems in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $153.88.

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

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