Icon Advisers Inc. Co. raised its stake in shares of Adobe Systems Inc. (NASDAQ:ADBE) by 44.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,080 shares of the software company’s stock after buying an additional 9,220 shares during the period. Icon Advisers Inc. Co.’s holdings in Adobe Systems were worth $3,265,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. WFG Advisors LP raised its position in Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock valued at $110,000 after buying an additional 246 shares in the last quarter. Smithfield Trust Co. raised its position in Adobe Systems by 465.6% in the third quarter. Smithfield Trust Co. now owns 1,018 shares of the software company’s stock valued at $110,000 after buying an additional 838 shares in the last quarter. Advisory Services Network LLC raised its position in Adobe Systems by 13.5% in the second quarter. Advisory Services Network LLC now owns 1,237 shares of the software company’s stock valued at $118,000 after buying an additional 147 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in Adobe Systems by 11.1% in the third quarter. TCI Wealth Advisors Inc. now owns 1,104 shares of the software company’s stock valued at $120,000 after buying an additional 110 shares in the last quarter. Finally, Clean Yield Group raised its position in Adobe Systems by 32.9% in the third quarter. Clean Yield Group now owns 1,130 shares of the software company’s stock valued at $123,000 after buying an additional 280 shares in the last quarter. 86.36% of the stock is currently owned by institutional investors.

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

Shares of Adobe Systems Inc. (NASDAQ:ADBE) traded down 0.18% during trading on Monday, reaching $104.83. 526,417 shares of the company’s stock traded hands. The company has a 50 day moving average price of $106.90 and a 200-day moving average price of $101.34. Adobe Systems Inc. has a one year low of $71.27 and a one year high of $111.09. The stock has a market cap of $52.12 billion, a P/E ratio of 53.48 and a beta of 1.14.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) 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 had revenue of $1.46 billion for the quarter. During the same quarter last year, the company earned $0.54 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts expect that Adobe Systems Inc. will post $2.98 EPS for the current fiscal year.

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Several equities analysts recently commented on ADBE shares. Citigroup Inc. reaffirmed a “buy” rating and set a $117.00 target price on shares of Adobe Systems in a report on Wednesday, September 21st. Canaccord Genuity increased their target price on shares of Adobe Systems from $110.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 21st. Bank of America Corp. reaffirmed a “buy” rating and set a $109.00 target price on shares of Adobe Systems in a report on Thursday, September 15th. Pivotal Research increased their price target on shares of Adobe Systems from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 21st. Finally, Deutsche Bank AG reissued a “buy” rating and set a $120.00 price target (down previously from $125.00) on shares of Adobe Systems in a research report on Wednesday, September 21st. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $112.87.

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

About Adobe Systems

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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