Commerzbank Aktiengesellschaft FI reduced its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 68.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,071 shares of the software company’s stock after selling 43,578 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Adobe Systems were worth $2,839,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clean Yield Group purchased a new stake in shares of Adobe Systems in the first quarter worth $100,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Adobe Systems in the second quarter worth $100,000. CWM LLC grew its stake in shares of Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after acquiring an additional 79 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Adobe Systems in the first quarter worth $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in shares of 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 worth $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.
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Adobe Systems Incorporated (NASDAQ:ADBE) opened at 154.49 on Friday. The stock has a 50 day moving average price of $151.06 and a 200 day moving average price of $139.34. The company has a market cap of $76.23 billion, a P/E ratio of 53.81 and a beta of 1.00. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, equities research analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.
In other news, EVP Abhay Parasnis sold 12,500 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $149.38, for a total value of $1,867,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were 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. In the last three months, insiders sold 101,959 shares of company stock valued at $14,870,874. Insiders own 0.38% of the company’s stock.
A number of research firms have recently commented on ADBE. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Vetr cut Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 target price on the stock. in a research note on Thursday, May 25th. Barclays PLC increased their target price on Adobe Systems from $155.00 to $161.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Stifel Nicolaus increased their target price on Adobe Systems from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. Finally, Piper Jaffray Companies increased their target price on Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Two investment 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 issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $154.08.
Adobe Systems 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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