Adobe Systems Incorporated (ADBE) Stake Maintained by Capital World Investors
Capital World Investors held its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,000,000 shares of the software company’s stock at the end of the 2nd quarter. Capital World Investors owned about 0.61% of Adobe Systems worth $424,320,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in ADBE. Capital Advisors Ltd. LLC purchased a new stake in shares of Adobe Systems in the 2nd quarter valued at about $100,000. CWM LLC raised its holdings in shares of Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after acquiring an additional 79 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of 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 valued at $141,000 after acquiring an additional 500 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Adobe Systems in the 2nd quarter valued at about $141,000. Finally, Acrospire Investment Management LLC raised its holdings in shares of Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after acquiring an additional 500 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.
Adobe Systems Incorporated (NASDAQ ADBE) opened at 151.12 on Monday. The stock has a 50 day moving average price of $151.62 and a 200-day moving average price of $142.33. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89. The stock has a market cap of $74.49 billion, a PE ratio of 47.51 and a beta of 0.99.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. Adobe Systems’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, equities analysts expect that Adobe Systems Incorporated will post $4.22 EPS for the current year.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total transaction of $304,433.64. Following the completion of the sale, the executive vice president now owns 56,356 shares in the company, valued at $8,784,773.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Abhay Parasnis sold 12,500 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $149.38, for a total value of $1,867,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,359 shares of company stock valued at $7,868,382. 0.38% of the stock is owned by company insiders.
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Several research firms have weighed in on ADBE. Robert W. Baird set a $160.00 price target on Adobe Systems and gave the company a “buy” rating in a report on Friday. Cowen and Company reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Adobe Systems in a report on Tuesday, October 3rd. Zacks Investment Research raised Adobe Systems from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $165.00 price objective on shares of Adobe Systems in a research report on Thursday, September 21st. Finally, Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price objective on the stock in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Adobe Systems presently has an average rating of “Buy” and an average price target of $158.16.
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.
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