Public Employees Retirement Association of Colorado reduced its position in shares of Adobe Systems Inc. (NASDAQ:ADBE) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,263 shares of the software company’s stock after selling 4,251 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Adobe Systems were worth $10,179,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake 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 worth $512,441,000 after buying an additional 1,726,306 shares during the last quarter. Geode Capital Management LLC raised its stake 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 worth $384,850,000 after buying an additional 140,952 shares during the last quarter. UBS Group AG raised its stake 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 worth $219,264,000 after buying an additional 1,588,934 shares during the last quarter. Suvretta Capital Management LLC raised its stake 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 worth $174,242,000 after buying an additional 872,395 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake 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 worth $153,260,000 after buying an additional 30,700 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

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

Shares of Adobe Systems Inc. (NASDAQ:ADBE) traded down 0.16% on Friday, hitting $107.84. The company’s stock had a trading volume of 1,968,363 shares. The stock’s 50-day moving average price is $104.83 and its 200-day moving average price is $98.82. The firm has a market cap of $53.62 billion, a price-to-earnings ratio of 55.02 and a beta of 1.27. Adobe Systems Inc. has a 52 week low of $71.27 and a 52 week high of $110.13.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The firm earned $1.46 billion during the quarter. During the same period in the prior year, the firm posted $0.54 EPS. The business’s revenue was up 20.2% on a year-over-year basis. Equities analysts expect that Adobe Systems Inc. will post $2.97 earnings per share for the current fiscal year.

ADBE has been the topic of a number of analyst reports. Vetr lowered shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $102.96 price objective on the stock. in a report on Wednesday, September 21st. Credit Suisse Group AG restated a “neutral” rating and issued a $105.00 price objective on shares of Adobe Systems in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. raised their price objective on shares of Adobe Systems from $104.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, September 21st. Canaccord Genuity restated a “buy” rating and issued a $110.00 price objective on shares of Adobe Systems in a report on Wednesday, June 22nd. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $114.00 price objective (up from $113.00) on shares of Adobe Systems in a report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $111.88.

In related news, EVP Michael A. Dillon sold 13,331 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $109.64, for a total value of $1,461,610.84. Following the completion of the transaction, the executive vice president now owns 30,993 shares of the company’s stock, valued at $3,398,072.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Garrett sold 26,899 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $103.47, for a total transaction of $2,783,239.53. The disclosure for this sale can be found here. 0.43% of the stock is currently 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.

5 Day Chart for NASDAQ:ADBE

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