Simmons Bank Has $2,286,000 Holdings in Adobe Systems Incorporated (ADBE)
Simmons Bank continued to hold its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,165 shares of the software company’s stock at the end of the second quarter. Simmons Bank’s holdings in Adobe Systems were worth $2,286,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. BlackRock Inc. increased its holdings in shares of 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 during the period. Janus Henderson Group PLC increased its holdings in shares of Adobe Systems by 784.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock valued at $1,587,936,000 after acquiring an additional 9,957,241 shares during the period. FMR LLC increased its holdings in shares of Adobe Systems by 4.9% in the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after acquiring an additional 1,651,762 shares during the period. Egerton Capital UK LLP purchased a new position in shares of Adobe Systems in the 1st quarter valued at $209,666,000. Finally, Polen Capital Management LLC increased its holdings in shares of Adobe Systems by 31.5% in the 2nd quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock valued at $857,484,000 after acquiring an additional 1,452,892 shares during the period. Institutional investors own 87.51% of the company’s stock.
In related news, EVP Abhay Parasnis sold 12,500 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated 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. Insiders have sold 28,359 shares of company stock valued at $4,255,181 in the last quarter. Insiders own 0.38% of the company’s stock.
A number of research analysts have recently issued reports on ADBE shares. Morgan Stanley reiterated an “equal weight” rating and issued a $137.00 price target on shares of Adobe Systems in a report on Friday, June 16th. Credit Suisse Group reiterated an “outperform” rating and issued a $150.00 price target on shares of Adobe Systems in a report on Tuesday, June 20th. Vetr downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 price target on the stock. in a report on Tuesday, June 20th. Pivotal Research reiterated a “sell” rating and issued a $114.00 price target (up from $112.00) on shares of Adobe Systems in a report on Wednesday, June 21st. Finally, BMO Capital Markets lifted their price target on Adobe Systems from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $158.16.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.47% during trading on Friday, hitting $154.33. The stock had a trading volume of 148,889 shares. The stock’s 50-day moving average is $151.92 and its 200-day moving average is $143.08. The stock has a market cap of $76.08 billion, a price-to-earnings ratio of 48.52 and a beta of 0.98. Adobe Systems Incorporated has a 12-month low of $98.00 and a 12-month high of $157.89.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts expect that Adobe Systems Incorporated will post $4.22 EPS for the current year.
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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