Brighton Jones LLC Purchases Shares of 9,501 Adobe Systems Incorporated (ADBE)
Brighton Jones LLC purchased a new position in Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,501 shares of the software company’s stock, valued at approximately $1,344,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its position in Adobe Systems by 1,894.1% in the 1st 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 in the last quarter. UBS Asset Management Americas Inc. lifted its position in Adobe Systems by 92.3% in the 1st 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 in the last quarter. Egerton Capital UK LLP bought a new position in Adobe Systems in the 1st quarter valued at approximately $209,666,000. Pioneer Investment Management Inc. bought a new position in Adobe Systems in the 1st quarter valued at approximately $201,774,000. Finally, Wellington Management Group LLP lifted its position in Adobe Systems by 40.3% in the 1st 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 in the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.
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Adobe Systems Incorporated (NASDAQ ADBE) opened at 156.24 on Thursday. The company has a market cap of $77.09 billion, a P/E ratio of 54.42 and a beta of 1.00. The firm’s 50 day moving average is $150.45 and its 200 day moving average is $138.85. Adobe Systems Incorporated has a 12-month low of $98.00 and a 12-month high of $157.89.
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 company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities research analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total value of $281,232.00. Following the completion of the transaction, the executive vice president now owns 59,991 shares of the company’s stock, valued at $8,638,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donna Morris sold 5,000 shares of Adobe Systems stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $145.00, for a total transaction of $725,000.00. The disclosure for this sale can be found here. Insiders sold 100,006 shares of company stock valued at $14,566,440 in the last ninety days. 0.38% of the stock is owned by corporate insiders.
ADBE has been the topic of several analyst reports. Vetr cut Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective on the stock. in a research report on Thursday, August 31st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $137.00 price objective on shares of Adobe Systems in a research report on Friday, June 16th. Royal Bank Of Canada upped their price objective on Adobe Systems from $135.00 to $157.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Finally, Bank of America Corporation increased their price target on Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, August 25th. 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 assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $153.88.
Adobe Systems Company 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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