Oregon Public Employees Retirement Fund increased its position in Adobe Systems Inc. (NASDAQ:ADBE) by 23.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 110,673 shares of the software company’s stock after buying an additional 21,168 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Adobe Systems were worth $12,012,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the company. Magnetar Financial LLC bought a new stake in Adobe Systems during the first quarter worth approximately $280,000. Panagora Asset Management Inc. boosted its stake in shares of Adobe Systems by 248.2% in the first quarter. Panagora Asset Management Inc. now owns 160,048 shares of the software company’s stock valued at $15,013,000 after buying an additional 114,079 shares during the last quarter. Eachwin Capital LP acquired a new stake in shares of Adobe Systems during the first quarter valued at approximately $476,000. Arizona State Retirement System boosted its stake in shares of Adobe Systems by 1.1% in the first quarter. Arizona State Retirement System now owns 161,922 shares of the software company’s stock valued at $15,188,000 after buying an additional 1,700 shares during the last quarter. Finally, Thrax Management LLC boosted its stake in shares of Adobe Systems by 60.3% in the first quarter. Thrax Management LLC now owns 40,085 shares of the software company’s stock valued at $3,760,000 after buying an additional 15,085 shares during the last quarter. Institutional investors own 88.01% of the company’s stock.

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

Adobe Systems Inc. (NASDAQ:ADBE) traded up 0.60% during mid-day trading on Monday, hitting $105.65. 1,805,956 shares of the company were exchanged. The stock has a market cap of $52.53 billion, a price-to-earnings ratio of 53.90 and a beta of 1.14. The firm has a 50 day moving average price of $107.40 and a 200 day moving average price of $100.94. Adobe Systems Inc. has a 12 month low of $71.27 and a 12 month high of $111.09.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. The firm had revenue of $1.46 billion for the quarter. During the same period in the previous year, the business posted $0.54 earnings per share. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. Analysts anticipate that Adobe Systems Inc. will post $2.98 EPS for the current fiscal year.

ADBE has been the subject of several research reports. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $105.68 price objective for the company. in a research note on Monday, October 10th. Deutsche Bank AG restated a “buy” rating and set a $125.00 price objective on shares of Adobe Systems in a research note on Thursday, November 3rd. Stephens initiated coverage on shares of Adobe Systems in a research note on Wednesday, August 10th. They set an “overweight” rating and a $125.00 price objective for the company. Cowen and Company restated an “outperform” rating and set a $120.00 price objective on shares of Adobe Systems in a research note on Tuesday, September 27th. Finally, BTIG Research initiated coverage on shares of Adobe Systems in a research note on Wednesday, November 16th. They set a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Adobe Systems presently has a consensus rating of “Buy” and a consensus price target of $112.87.

In other Adobe Systems news, EVP Michael A. Dillon sold 13,331 shares of the firm’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $109.64, for a total value of $1,461,610.84. Following the sale, the executive vice president now directly owns 30,993 shares of the company’s stock, valued at approximately $3,398,072.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel Rosensweig sold 13,000 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $107.42, for a total value of $1,396,460.00. Following the completion of the sale, the director now directly owns 13,000 shares in the company, valued at $1,396,460. The disclosure for this sale can be found here. 0.43% of the stock is owned by company 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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