Family Capital Trust Co lowered its stake in shares of Adobe Systems Inc. (NASDAQ:ADBE) by 5.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 570,546 shares of the software company’s stock after selling 30,000 shares during the period. Adobe Systems makes up 32.4% of Family Capital Trust Co’s portfolio, making the stock its largest position. Family Capital Trust Co owned 0.11% of Adobe Systems worth $54,653,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Adobe Systems by 46.2% in the first quarter. Wellington Management Group LLP now owns 5,463,118 shares of the software company’s stock valued at $512,441,000 after buying an additional 1,726,306 shares during the period. Geode Capital Management LLC boosted its position in shares of Adobe Systems by 3.6% in the first quarter. Geode Capital Management LLC now owns 4,111,067 shares of the software company’s stock valued at $384,850,000 after buying an additional 140,952 shares during the period. UBS Group AG boosted its position in shares of Adobe Systems by 212.2% in the first quarter. UBS Group AG now owns 2,337,570 shares of the software company’s stock valued at $219,264,000 after buying an additional 1,588,934 shares during the period. Suvretta Capital Management LLC boosted its position in shares of Adobe Systems by 88.6% in the first quarter. Suvretta Capital Management LLC now owns 1,857,595 shares of the software company’s stock valued at $174,242,000 after buying an additional 872,395 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in shares of Adobe Systems by 3.2% in the first quarter. 1832 Asset Management L.P. now owns 998,800 shares of the software company’s stock valued at $153,260,000 after buying an additional 30,700 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Adobe Systems Inc. (NASDAQ:ADBE) traded up 0.07% on Friday, reaching $108.64. The company had a trading volume of 1,405,488 shares. The company’s 50-day moving average is $103.57 and its 200-day moving average is $98.19. The company has a market capitalization of $54.02 billion, a PE ratio of 55.43 and a beta of 1.27. Adobe Systems Inc. has a one year low of $71.27 and a one year high of $109.76.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The business had revenue of $1.46 billion for the quarter. During the same period in the previous year, the firm earned $0.54 EPS. The company’s revenue was up 20.2% compared to the same quarter last year. Equities research analysts predict that Adobe Systems Inc. will post $2.97 earnings per share for the current year.

Several analysts have issued reports on ADBE shares. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $99.10 price objective on the stock in a research note on Thursday, September 8th. Robert W. Baird upgraded Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research note on Thursday, August 25th. Cowen and Company upped their price objective on Adobe Systems to $115.00 and gave the company an “outperform” rating in a research note on Friday, September 16th. Argus upped their price objective on Adobe Systems from $110.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, September 23rd. Finally, Royal Bank Of Canada upped their price objective on Adobe Systems from $115.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, September 21st. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $110.82.

In other news, Chairman John E. Warnock sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $98.51, for a total value of $197,020.00. Following the transaction, the chairman now owns 16,088 shares of the company’s stock, valued at $1,584,828.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman John E. Warnock sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $106.99, for a total transaction of $534,950.00. Following the completion of the transaction, the chairman now directly owns 16,088 shares in the company, valued at approximately $1,721,255.12. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by 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.

5 Day Chart for NASDAQ:ADBE

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