Jensen Investment Management Inc. lessened its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,670 shares of the software company’s stock after selling 2,155 shares during the quarter. Jensen Investment Management Inc.’s holdings in Adobe Systems were worth $9,147,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ADBE. Ameriprise Financial Inc. grew its position in shares of Adobe Systems by 7.0% during the 1st quarter. Ameriprise Financial Inc. now owns 5,332,348 shares of the software company’s stock valued at $693,890,000 after buying an additional 349,088 shares during the last quarter. Morgan Stanley grew its position in shares of Adobe Systems by 52.2% during the 1st quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock valued at $211,367,000 after buying an additional 557,169 shares during the last quarter. Gofen & Glossberg LLC IL grew its position in shares of Adobe Systems by 2.7% during the 1st quarter. Gofen & Glossberg LLC IL now owns 25,943 shares of the software company’s stock valued at $3,376,000 after buying an additional 673 shares during the last quarter. Israel Discount Bank of New York bought a new stake in shares of Adobe Systems during the 1st quarter valued at about $189,000. Finally, Bridgewater Associates LP bought a new stake in shares of Adobe Systems during the 1st quarter valued at about $11,668,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 154.49 on Friday. The company has a 50 day moving average of $151.06 and a 200 day moving average of $139.34. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $157.89. The stock has a market cap of $76.23 billion, a P/E ratio of 53.81 and a beta of 1.00.

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

A number of brokerages recently weighed in on ADBE. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Vetr downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price objective for the company. in a research report on Thursday, May 25th. Barclays PLC boosted their price objective on shares of Adobe Systems from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Stifel Nicolaus boosted their price objective on shares of Adobe Systems from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Finally, Piper Jaffray Companies boosted their price objective on shares of Adobe Systems from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Adobe Systems currently has an average rating of “Buy” and a consensus price target of $153.88.

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In other news, EVP Abhay Parasnis sold 12,500 shares of Adobe Systems stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $149.38, for a total transaction of $1,867,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Warnock sold 32,600 shares of Adobe Systems 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 sale, the director now 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. In 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 corporate 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.

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

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