Meiji Yasuda Asset Management Co Ltd. Sells 3,370 Shares of Adobe Systems Incorporated (ADBE)

Meiji Yasuda Asset Management Co Ltd. decreased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 14.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,810 shares of the software company’s stock after selling 3,370 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Adobe Systems were worth $2,802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clean Yield Group bought a new position in shares of Adobe Systems during the 1st quarter worth $100,000. Capital Advisors Ltd. LLC bought a new position in shares of Adobe Systems during the 2nd quarter worth $100,000. CWM LLC grew its position in shares of Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after buying an additional 79 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Adobe Systems during the 1st quarter worth $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in shares of Adobe Systems by 86.2% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after buying an additional 500 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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Adobe Systems Incorporated (ADBE) opened at 155.34 on Monday. The company’s 50-day moving average price is $150.04 and its 200 day moving average price is $138.04. Adobe Systems Incorporated has a 12 month low of $97.87 and a 12 month high of $156.06. The stock has a market capitalization of $76.65 billion, a PE ratio of 54.11 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, analysts forecast that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on ADBE. Moffett Nathanson began coverage on Adobe Systems in a research report on Wednesday, September 6th. They set a “buy” rating and a $195.00 price objective on the stock. Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $150.30 price objective on the stock in a research report on Wednesday, September 6th. Robert W. Baird reaffirmed a “buy” rating and set a $160.00 price objective on shares of Adobe Systems in a research report on Friday, September 1st. Bank of America Corporation raised their price objective on Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, August 25th. Finally, Jefferies Group LLC began coverage on Adobe Systems in a research report on Thursday, August 24th. They set a “buy” rating and a $175.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $153.88.

In other news, Director John E. Warnock sold 32,600 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the completion of the transaction, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,317,798.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donna Morris sold 5,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $145.00, for a total value of $725,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,239 shares of company stock valued at $14,877,475 over the last ninety days. 0.38% of the stock is owned by insiders.

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

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