Livforsakringsbolaget Skandia Omsesidigt continued to hold its stake in Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,507 shares of the software company’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Adobe Systems were worth $1,345,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in ADBE. BlackRock Inc. raised its position in Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after buying an additional 30,228,013 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Adobe Systems by 92.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,372,838 shares of the software company’s stock worth $438,907,000 after buying an additional 1,619,111 shares during the last quarter. Egerton Capital UK LLP purchased a new position in Adobe Systems during the first quarter worth about $209,666,000. Pioneer Investment Management Inc. purchased a new position in Adobe Systems during the first quarter worth about $201,774,000. Finally, Wellington Management Group LLP raised its position in Adobe Systems by 40.3% in the first quarter. Wellington Management Group LLP now owns 4,009,357 shares of the software company’s stock worth $521,737,000 after buying an additional 1,152,281 shares during the last quarter. 88.05% of the stock is currently owned by hedge funds and other institutional investors.
Adobe Systems Incorporated (NASDAQ ADBE) traded down 0.90% during mid-day trading on Tuesday, hitting $147.11. The company’s stock had a trading volume of 402,202 shares. The company’s 50 day moving average is $144.12 and its 200-day moving average is $131.39. The stock has a market cap of $72.58 billion, a P/E ratio of 51.24 and a beta of 1.00. Adobe Systems Incorporated has a 52-week low of $97.15 and a 52-week high of $150.40.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. On average, equities analysts predict that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Livforsakringsbolaget Skandia Omsesidigt Has $1,345,000 Position in Adobe Systems Incorporated (ADBE)” was first posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://www.themarketsdaily.com/2017/08/08/livforsakringsbolaget-skandia-omsesidigt-has-1345000-position-in-adobe-systems-incorporated-adbe.html.
A number of analysts have commented on the stock. Vetr downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price target on the stock. in a research report on Thursday, May 25th. Barclays PLC boosted their price objective on shares of Adobe Systems from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Stifel Nicolaus boosted their price objective on shares of Adobe Systems from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Piper Jaffray Companies boosted their price objective on shares of Adobe Systems from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Finally, Pivotal Research reissued a “sell” rating and issued a $114.00 target price (up from $112.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $153.20.
In other Adobe Systems news, EVP Abhay Parasnis sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $149.38, for a total transaction of $1,867,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Donna Morris sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. The disclosure for this sale can be found here. Insiders sold 102,519 shares of company stock worth $14,894,384 over the last quarter. 0.38% of the stock is owned by company insiders.
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.
Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems Incorporated (NASDAQ:ADBE).
Receive News & Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.