Gilder Gagnon Howe & Co. LLC raised its stake in Adobe Systems Inc. (NASDAQ:ADBE) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 441,697 shares of the software company’s stock after buying an additional 28,356 shares during the period. Gilder Gagnon Howe & Co. LLC owned approximately 0.09% of Adobe Systems worth $42,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Savant Capital LLC increased its position in Adobe Systems by 0.3% in the second quarter. Savant Capital LLC now owns 3,445 shares of the software company’s stock valued at $330,000 after buying an additional 10 shares during the last quarter. Johanson Financial Advisors Inc. increased its position in Adobe Systems by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 3,823 shares of the software company’s stock valued at $366,000 after buying an additional 20 shares during the last quarter. EP Wealth Advisors Inc. increased its position in Adobe Systems by 0.9% in the first quarter. EP Wealth Advisors Inc. now owns 5,074 shares of the software company’s stock valued at $476,000 after buying an additional 44 shares during the last quarter. Raymond James Trust N.A. increased its position in Adobe Systems by 0.8% in the second quarter. Raymond James Trust N.A. now owns 6,437 shares of the software company’s stock valued at $617,000 after buying an additional 50 shares during the last quarter. Finally, Conning Inc. increased its position in Adobe Systems by 0.5% in the second quarter. Conning Inc. now owns 12,387 shares of the software company’s stock valued at $1,187,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 87.74% of the company’s stock.

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

Shares of Adobe Systems Inc. (NASDAQ:ADBE) traded down 0.14% during midday trading on Wednesday, reaching $108.27. The company had a trading volume of 427,710 shares. The company has a market capitalization of $53.83 billion, a P/E ratio of 55.24 and a beta of 1.27. The company’s 50 day moving average price is $105.08 and its 200-day moving average price is $99.06. Adobe Systems Inc. has a 52 week low of $71.27 and a 52 week high of $110.13.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The company had revenue of $1.46 billion for the quarter. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. On average, equities research analysts predict that Adobe Systems Inc. will post $2.97 earnings per share for the current fiscal year.

Several research firms have weighed in on ADBE. Zacks Investment Research downgraded Adobe Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 19th. Cowen and Company upped their price target on Adobe Systems from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 21st. RBC Capital Markets restated an “outperform” rating and issued a $116.00 price target (up from $115.00) on shares of Adobe Systems in a research note on Thursday, September 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $104.00 price target on shares of Adobe Systems in a research note on Wednesday, June 22nd. Finally, Rosenblatt Securities upped their price target on Adobe Systems from $112.00 to $120.00 and gave the stock a “buy” rating in a research note 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 assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.88.

In other Adobe Systems news, EVP Michael A. Dillon sold 5,450 shares of Adobe Systems stock in a transaction on Monday, August 29th. The stock was sold at an average price of $101.85, for a total value of $555,082.50. Following the sale, the executive vice president now owns 44,324 shares in the company, valued at $4,514,399.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donna Morris sold 2,335 shares of Adobe Systems stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $100.00, for a total value of $233,500.00. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

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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