Adobe Systems Incorporated (ADBE) Shares Bought by Penserra Capital Management LLC
Penserra Capital Management LLC raised its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 13.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,288 shares of the software company’s stock after purchasing an additional 264 shares during the period. Penserra Capital Management LLC’s holdings in Adobe Systems were worth $323,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in Adobe Systems by 7.0% in the first quarter. Ameriprise Financial Inc. now owns 5,332,348 shares of the software company’s stock valued at $693,890,000 after purchasing an additional 349,088 shares in the last quarter. Morgan Stanley increased its stake in Adobe Systems by 52.2% in the first quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock valued at $211,367,000 after purchasing an additional 557,169 shares in the last quarter. Gofen & Glossberg LLC IL increased its stake in Adobe Systems by 2.7% in the first quarter. Gofen & Glossberg LLC IL now owns 25,943 shares of the software company’s stock valued at $3,376,000 after purchasing an additional 673 shares in the last quarter. Israel Discount Bank of New York bought a new stake in Adobe Systems in the first quarter valued at $189,000. Finally, Bridgewater Associates LP bought a new stake in Adobe Systems in the first quarter valued at $11,668,000. 87.53% of the stock is owned by hedge funds and other institutional investors.
Adobe Systems Incorporated (NASDAQ:ADBE) opened at 156.87 on Tuesday. Adobe Systems Incorporated has a 1-year low of $97.87 and a 1-year high of $157.89. The firm has a 50-day moving average of $150.06 and a 200-day moving average of $138.45. The stock has a market capitalization of $77.40 billion, a PE ratio of 54.64 and a beta of 1.00.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping 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 firm 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 posted $0.71 earnings per share. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities analysts expect that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.
Several equities research analysts have weighed in on ADBE shares. Royal Bank Of Canada lifted their price target on shares of Adobe Systems from $135.00 to $157.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Vetr downgraded 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $160.00 price target (up from $140.00) on shares of Adobe Systems in a research note on Friday, June 9th. Pivotal Research downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and lifted their price target for the company from $109.00 to $112.00 in a research note on Monday, June 12th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $161.00 price target (up from $141.00) on shares of Adobe Systems in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $153.88.
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In other news, EVP Abhay Parasnis sold 12,500 shares of Adobe Systems 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. 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. Company insiders own 0.38% of the company’s stock.
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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