Legal & General Group Plc raised its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,412,707 shares of the software company’s stock after purchasing an additional 79,602 shares during the period. Legal & General Group Plc owned 0.49% of Adobe Systems worth $341,252,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ADBE. BlackRock Inc. boosted its position in shares of Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock valued at $4,141,250,000 after acquiring an additional 30,228,013 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Adobe Systems by 92.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,372,838 shares of the software company’s stock valued at $438,907,000 after acquiring an additional 1,619,111 shares during the period. Egerton Capital UK LLP bought a new stake in shares of Adobe Systems in the first quarter valued at approximately $209,666,000. Pioneer Investment Management Inc. bought a new stake in shares of Adobe Systems in the first quarter valued at approximately $201,774,000. Finally, Wellington Management Group LLP boosted its position in shares of Adobe Systems by 40.3% in the first quarter. Wellington Management Group LLP now owns 4,009,357 shares of the software company’s stock valued at $521,737,000 after acquiring an additional 1,152,281 shares during the period. Institutional investors own 87.53% of the company’s stock.

In related news, Director John E. Warnock sold 32,600 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares in the company, valued at approximately $2,317,798.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total value of $286,466.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,239 shares of company stock valued at $14,877,475. Corporate insiders own 0.38% of the company’s stock.

ADBE has been the subject of several research reports. BidaskClub cut Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Citigroup Inc. reissued a “buy” rating and issued a $161.00 price objective (up from $141.00) on shares of Adobe Systems in a research report on Tuesday, June 13th. Vetr raised Adobe Systems from a “hold” rating to a “buy” rating and set a $157.24 price objective for the company in a research report on Wednesday, June 7th. Canaccord Genuity reissued a “buy” rating and issued a $165.00 price objective (up from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $184.00 price objective (up from $160.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Adobe Systems presently has a consensus rating of “Buy” and an average price target of $152.46.

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Shares of Adobe Systems Incorporated (ADBE) opened at 155.06 on Monday. The firm has a market capitalization of $76.51 billion, a price-to-earnings ratio of 54.01 and a beta of 1.00. Adobe Systems Incorporated has a 52 week low of $97.87 and a 52 week high of $156.06. The stock has a 50 day moving average price of $149.22 and a 200-day moving average price of $137.01.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. On average, equities research analysts forecast that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.

Adobe Systems 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.

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

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