Tudor Investment Corp ET AL Takes $1.46 Million Position in Adobe Systems Incorporated (ADBE)
Tudor Investment Corp ET AL bought a new position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,325 shares of the software company’s stock, valued at approximately $1,460,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC acquired a new stake in Adobe Systems in the 2nd quarter worth about $100,000. CWM LLC raised its stake in Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after purchasing an additional 79 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Adobe Systems by 86.2% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after purchasing an additional 500 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Adobe Systems in the 2nd quarter worth about $141,000. Finally, Acrospire Investment Management LLC raised its stake in Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.
In other Adobe Systems news, CMO Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles M. Geschke sold 25,000 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 53,359 shares of company stock valued at $7,868,382 in the last three months. Insiders own 0.38% of the company’s stock.
Adobe Systems Incorporated (ADBE) opened at 151.12 on Friday. The firm’s 50-day moving average is $151.62 and its 200 day moving average is $142.33. Adobe Systems Incorporated has a 12-month low of $98.00 and a 12-month high of $157.89. The firm has a market cap of $74.67 billion, a P/E ratio of 65.14 and a beta of 0.98.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. 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 posted $0.75 earnings per share. Equities analysts forecast that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.
Several equities analysts have recently commented on the stock. Pivotal Research cut shares of Adobe Systems from a “hold” rating to a “sell” rating and boosted their target price for the company from $109.00 to $112.00 in a research report on Monday, June 12th. Citigroup Inc. restated a “buy” rating and issued a $161.00 target price (up from $141.00) on shares of Adobe Systems in a research report on Tuesday, June 13th. BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Morgan Stanley restated an “equal weight” rating and issued a $137.00 target price on shares of Adobe Systems in a research report on Friday, June 16th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $150.00 target price on shares of Adobe Systems in a research report on Tuesday, June 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 assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $158.16.
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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