Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,434,021 shares of the software company’s stock after buying an additional 31,017 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of Adobe Systems worth $155,649,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Adobe Systems by 6.9% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 441,697 shares of the software company’s stock valued at $42,310,000 after buying an additional 28,356 shares during the period. Commonwealth Equity Services Inc raised its stake in shares of Adobe Systems by 2.9% in the third quarter. Commonwealth Equity Services Inc now owns 35,295 shares of the software company’s stock worth $3,831,000 after buying an additional 982 shares in the last quarter. Atalanta Sosnoff Capital LLC raised its stake in shares of Adobe Systems by 53.5% in the second quarter. Atalanta Sosnoff Capital LLC now owns 220,831 shares of the software company’s stock worth $21,153,000 after buying an additional 76,988 shares in the last quarter. Carnick & Kubik Group LLC acquired a new stake in shares of Adobe Systems during the second quarter worth $1,215,000. Finally, Commerce Bank raised its stake in shares of Adobe Systems by 1.1% in the second quarter. Commerce Bank now owns 353,819 shares of the software company’s stock worth $33,892,000 after buying an additional 3,971 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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

Adobe Systems Incorporated (NASDAQ:ADBE) opened at 104.14 on Thursday. The stock has a market capitalization of $51.62 billion, a PE ratio of 44.89 and a beta of 1.07. The firm has a 50-day moving average of $104.13 and a 200-day moving average of $102.55. Adobe Systems Incorporated has a 52-week low of $71.27 and a 52-week high of $111.09.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 15th. The software company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. The company had revenue of $1.61 billion for the quarter. Adobe Systems had a net margin of 19.96% and a return on equity of 17.23%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, equities analysts expect that Adobe Systems Incorporated will post $3.82 EPS for the current year.

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A number of equities research analysts have weighed in on ADBE shares. Vetr lowered Adobe Systems from a “hold” rating to a “sell” rating and set a $105.68 price objective on the stock. in a report on Monday, October 10th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Adobe Systems in a report on Thursday, November 3rd. Cowen and Company reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Adobe Systems in a report on Tuesday, September 27th. BTIG Research started coverage on Adobe Systems in a report on Wednesday, November 16th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research raised Adobe Systems from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Thursday, September 22nd. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $116.25.

In other news, Chairman John E. Warnock sold 6,000 shares of Adobe Systems stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $105.41, for a total transaction of $632,460.00. Following the sale, the chairman now directly owns 16,088 shares in the company, valued at approximately $1,695,836.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael A. Dillon sold 13,331 shares of Adobe Systems 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 sale, the executive vice president now owns 30,993 shares in the company, valued at $3,398,072.52. The disclosure for this sale can be found here. 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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