Swiss National Bank increased its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,805,183 shares of the software company’s stock after buying an additional 43,300 shares during the quarter. Swiss National Bank owned 0.37% of Adobe Systems worth $255,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC bought a new stake in Adobe Systems in the second quarter valued at approximately $100,000. CWM LLC lifted its position in Adobe Systems by 11.8% in 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 during the last quarter. Clean Yield Group bought a new stake in Adobe Systems in the first quarter valued at approximately $100,000. Signature Estate & Investment Advisors LLC bought a new stake in Adobe Systems in the first quarter valued at approximately $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Adobe Systems by 86.2% in 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 during the last quarter. Institutional investors own 87.53% of the company’s stock.
Several analysts have weighed in on ADBE shares. Royal Bank Of Canada boosted 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 downgraded 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. BMO Capital Markets reiterated an “outperform” rating and issued a $160.00 price objective (up previously from $140.00) on shares of Adobe Systems in a research report on Friday, June 9th. Pivotal Research downgraded Adobe Systems from a “hold” rating to a “sell” rating and boosted their price objective for the company from $109.00 to $112.00 in a research report on Monday, June 12th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $161.00 price objective (up previously from $141.00) on shares of Adobe Systems in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $153.88.
Adobe Systems Incorporated (NASDAQ ADBE) opened at 154.49 on Friday. The stock’s 50 day moving average price is $151.06 and its 200-day moving average price is $139.34. Adobe Systems Incorporated has a one year low of $98.00 and a one year high of $157.89. The company has a market capitalization of $76.23 billion, a P/E ratio of 53.81 and a beta of 1.00.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business posted $0.71 EPS. The business’s revenue was up 26.7% compared to the same quarter last year. Equities analysts forecast that Adobe Systems Incorporated will post $4.06 EPS for the current year.
In related news, Director Daniel Rosensweig sold 11,000 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $143.71, for a total transaction of $1,580,810.00. Following the transaction, the director now directly owns 8,801 shares in the company, valued at approximately $1,264,791.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total value of $286,466.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,959 shares of company stock worth $14,870,874. 0.38% of the stock is owned by company insiders.
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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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