Nationwide Fund Advisors lowered its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 702,338 shares of the software company’s stock after selling 7,431 shares during the period. Adobe Systems comprises 0.4% of Nationwide Fund Advisors’ portfolio, making the stock its 28th largest holding. Nationwide Fund Advisors owned 0.14% of Adobe Systems worth $99,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. 1ST Source Bank boosted its holdings in Adobe Systems by 0.3% during the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America boosted its holdings in Adobe Systems by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock worth $250,000 after buying an additional 13 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in Adobe Systems by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after buying an additional 13 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Adobe Systems by 0.6% during the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after buying an additional 16 shares in the last quarter. Finally, Bank of Stockton boosted its holdings in Adobe Systems by 0.4% during the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after buying an additional 20 shares in the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on the stock. Zacks Investment Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Robert W. Baird reissued an “outperform” rating and set a $160.00 price objective on shares of Adobe Systems in a report on Thursday, September 21st. BMO Capital Markets reissued an “outperform” rating and set a $165.00 price objective on shares of Adobe Systems in a report on Thursday, September 21st. Vetr raised shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price objective on the stock in a report on Wednesday, September 20th. Finally, KeyCorp reissued an “overweight” rating and set a $174.00 price objective on shares of Adobe Systems in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $158.25.

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In other news, Director Charles M. Geschke sold 25,000 shares of Adobe Systems stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $145.16, for a total value of $3,629,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were 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. In the last ninety days, insiders have sold 53,359 shares of company stock worth $7,868,382. Insiders own 0.38% of the company’s stock.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 146.43 on Thursday. The firm’s 50-day moving average is $151.61 and its 200 day moving average is $140.16. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89. The stock has a market capitalization of $72.25 billion, a P/E ratio of 46.03 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. On average, analysts expect that Adobe Systems Incorporated will post $4.22 EPS for the current fiscal year.

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.

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

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