GAM Holding AG lifted its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 27.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 171,056 shares of the software company’s stock after acquiring an additional 36,624 shares during the quarter. GAM Holding AG’s holdings in Adobe Systems were worth $24,194,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. 1ST Source Bank increased its position in shares of Adobe Systems by 0.3% in the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock valued at $261,000 after acquiring an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after acquiring an additional 13 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock valued at $387,000 after acquiring an additional 13 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Adobe Systems by 0.6% in the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock valued at $372,000 after acquiring an additional 16 shares during the last quarter. Finally, Bank of Stockton increased its position in shares of Adobe Systems by 0.4% in the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock valued at $743,000 after acquiring an additional 20 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 155.34 on Friday. The company has a market capitalization of $76.65 billion, a PE ratio of 54.11 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 company has a 50 day moving average price of $150.04 and a 200 day moving average price of $138.04.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data 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. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business earned $0.71 EPS. Adobe Systems’s revenue was up 26.7% compared to the same quarter last year. On average, equities research analysts expect that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.

In other Adobe Systems news, Director Daniel Rosensweig sold 11,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $143.71, for a total value of $1,580,810.00. Following the completion of the transaction, the director now directly owns 8,801 shares of the company’s stock, valued at approximately $1,264,791.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the firm’s stock in a transaction 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 directly owns 61,944 shares of the company’s stock, valued at $8,628,179.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,239 shares of company stock valued at $14,877,475. Insiders own 0.38% of the company’s stock.

A number of analysts recently issued reports on ADBE shares. Royal Bank Of Canada lifted their target price on Adobe Systems from $135.00 to $157.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Vetr downgraded Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 target price on the stock. in a research report on Thursday, May 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $160.00 target price (up previously from $140.00) on shares of Adobe Systems in a research report on Friday, June 9th. Pivotal Research downgraded Adobe Systems from a “hold” rating to a “sell” rating and lifted their target price for the company from $109.00 to $112.00 in a research report on Monday, June 12th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $161.00 target price (up previously from $141.00) on shares of Adobe Systems in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $153.88.

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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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