UMB Bank N A MO decreased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,102 shares of the software company’s stock after selling 2,450 shares during the period. UMB Bank N A MO’s holdings in Adobe Systems were worth $4,964,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wedbush Securities Inc. raised its stake in shares of Adobe Systems by 10.8% in the second quarter. Wedbush Securities Inc. now owns 3,338 shares of the software company’s stock worth $472,000 after buying an additional 326 shares during the period. Sigma Planning Corp bought a new stake in shares of Adobe Systems during the second quarter worth about $206,000. Rhumbline Advisers raised its stake in shares of Adobe Systems by 2.9% in the second quarter. Rhumbline Advisers now owns 826,982 shares of the software company’s stock worth $116,968,000 after buying an additional 23,138 shares during the period. First Trust Advisors LP raised its stake in shares of Adobe Systems by 22.7% in the second quarter. First Trust Advisors LP now owns 871,909 shares of the software company’s stock worth $123,323,000 after buying an additional 161,276 shares during the period. Finally, National Planning Corp raised its stake in shares of Adobe Systems by 67.6% in the second quarter. National Planning Corp now owns 2,838 shares of the software company’s stock worth $393,000 after buying an additional 1,145 shares during the period. Institutional investors own 87.53% of the company’s stock.

Shares of Adobe Systems Incorporated (ADBE) opened at 155.16 on Friday. The firm has a market cap of $76.56 billion, a P/E ratio of 54.04 and a beta of 1.00. Adobe Systems Incorporated has a 12-month low of $97.87 and a 12-month high of $155.36. The company has a 50-day moving average of $148.94 and a 200 day moving average of $136.74.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.95 by $0.07. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities analysts predict that Adobe Systems Incorporated will post $4.06 EPS for the current year.

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ADBE has been the subject of a number of research analyst reports. Robert W. Baird restated an “outperform” rating and issued a $160.00 price target (up previously from $140.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $161.00 price target for the company in a research note on Friday, June 23rd. Royal Bank Of Canada lifted their price target on shares of Adobe Systems from $135.00 to $157.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Adobe Systems in a research note on Monday, June 26th. Finally, Vetr lowered shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price target for the company. in a research note on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $152.46.

In other news, EVP Ann Lewnes sold 2,233 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $139.29, for a total transaction of $311,034.57. Following the sale, the executive vice president now owns 61,944 shares in the company, valued at $8,628,179.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Warnock sold 32,600 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the sale, the director now owns 16,088 shares in the company, valued at approximately $2,317,798.16. The disclosure for this sale can be found here. Insiders have sold 102,239 shares of company stock worth $14,877,475 in the last 90 days. Company 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.

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

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