Canada Pension Plan Investment Board Has $106.47 Million Position in Adobe Systems Incorporated (ADBE)
Canada Pension Plan Investment Board increased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 44.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 752,750 shares of the software company’s stock after buying an additional 231,100 shares during the period. Canada Pension Plan Investment Board owned 0.15% of Adobe Systems worth $106,469,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Advisors Ltd. LLC bought a new position in shares of Adobe Systems during the second quarter worth about $100,000. CWM LLC increased its position in shares of Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after buying an additional 79 shares in the last quarter. Clean Yield Group bought a new position in shares of Adobe Systems during the first quarter worth about $100,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Adobe Systems during the first quarter worth about $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.
Adobe Systems Incorporated (ADBE) opened at 152.14 on Wednesday. The company has a 50-day moving average price of $147.88 and a 200-day moving average price of $135.68. The firm has a market cap of $75.07 billion, a PE ratio of 52.99 and a beta of 1.00. Adobe Systems Incorporated has a 12-month low of $97.87 and a 12-month high of $153.00.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.07. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The business’s revenue was up 26.7% on a year-over-year basis. During the same period last year, the firm posted $0.71 earnings per share. On average, equities analysts predict that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.
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Several research analysts recently weighed in on the company. Jefferies Group LLC assumed coverage on Adobe Systems in a research note on Thursday, August 24th. They set a “buy” rating and a $175.00 target price on the stock. Bank of America Corporation boosted their target price on Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, August 25th. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada restated a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a research note on Monday, July 31st. Finally, Pacific Crest boosted their target price on Adobe Systems from $142.00 to $174.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Adobe Systems has a consensus rating of “Buy” and a consensus price target of $152.71.
In other news, EVP Abhay Parasnis sold 12,500 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $149.38, for a total value of $1,867,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total transaction of $311,034.57. Following the completion of the transaction, the executive vice president now owns 61,944 shares of the company’s stock, valued at $8,628,179.76. The disclosure for this sale can be found here. Insiders sold 102,239 shares of company stock valued at $14,877,475 over the last quarter. Insiders own 0.38% 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.
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