Adobe Systems Incorporated (ADBE) Shares Bought by Atlantic Trust Group LLC
Atlantic Trust Group LLC boosted its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 59.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 471,736 shares of the software company’s stock after buying an additional 176,305 shares during the period. Atlantic Trust Group LLC owned approximately 0.10% of Adobe Systems worth $66,723,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Adobe Systems by 7.0% during the first 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 period. Morgan Stanley boosted its stake in Adobe Systems by 52.2% during the first 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 period. Aviva PLC boosted its stake in Adobe Systems by 0.4% during the second quarter. Aviva PLC now owns 312,394 shares of the software company’s stock valued at $44,194,000 after buying an additional 1,250 shares during the period. Gofen & Glossberg LLC IL boosted its stake in Adobe Systems by 2.7% during the first 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 period. Finally, Israel Discount Bank of New York bought a new stake in Adobe Systems during the first quarter valued at $189,000. 87.40% of the stock is owned by institutional investors.
Adobe Systems Incorporated (NASDAQ:ADBE) opened at 155.77 on Tuesday. Adobe Systems Incorporated has a one year low of $98.00 and a one year high of $157.89. The stock has a market cap of $76.86 billion, a P/E ratio of 54.26 and a beta of 1.00. The company’s 50-day moving average price is $151.32 and its 200-day moving average price is $139.89.
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. 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 for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. Analysts forecast that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.
Several equities research analysts recently issued reports on ADBE shares. Royal Bank Of Canada lifted their price objective on Adobe Systems from $135.00 to $157.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Vetr lowered Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price objective for the company. in a research note on Thursday, May 25th. BMO Capital Markets reissued an “outperform” rating and set a $160.00 price objective (up previously from $140.00) on shares of Adobe Systems in a research note on Friday, June 9th. Pivotal Research lowered Adobe Systems from a “hold” rating to a “sell” rating and lifted their price objective for the company from $109.00 to $112.00 in a research note on Monday, June 12th. Finally, Citigroup Inc. reissued a “buy” rating and set a $161.00 price objective (up previously from $141.00) on shares of Adobe Systems in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Adobe Systems presently has a consensus rating of “Buy” and a consensus price target of $154.41.
In other news, Director John E. Warnock sold 32,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were 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 $2,317,798.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Donna Morris sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $145.00, for a total transaction of $725,000.00. The disclosure for this sale can be found here. Insiders sold a total of 101,959 shares of company stock worth $14,870,874 over the last three months. 0.38% of the stock is currently owned by corporate insiders.
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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