Gotham Asset Management LLC increased its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 382.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,342 shares of the software company’s stock after purchasing an additional 60,531 shares during the period. Gotham Asset Management LLC’s holdings in Adobe Systems were worth $10,798,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ADBE. Capital Advisors Ltd. LLC bought a new stake in Adobe Systems in the second quarter worth $100,000. CWM LLC boosted its holdings in Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after acquiring an additional 79 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in Adobe Systems in the second quarter worth $141,000. Finally, Acrospire Investment Management LLC boosted its holdings in Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors.
In related news, EVP Donna Morris sold 10,000 shares of Adobe Systems stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total value of $286,466.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,406 shares of company stock valued at $3,958,150. 0.38% of the stock is owned by company insiders.
Several equities research analysts have commented on the company. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price target on the stock in a report on Wednesday, September 20th. Piper Jaffray Companies upped their price target on Adobe Systems from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, June 21st. Stifel Nicolaus upped their price target on Adobe Systems from $150.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. Finally, Barclays PLC upped their price target on Adobe Systems from $155.00 to $161.00 and gave the company an “overweight” rating in a report on Wednesday, June 21st. 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 given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $158.16.
Shares of Adobe Systems Incorporated (ADBE) opened at 154.119 on Thursday. The company’s 50 day moving average price is $151.85 and its 200 day moving average price is $143.00. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $157.89. The stock has a market cap of $75.97 billion, a PE ratio of 48.450 and a beta of 0.98.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the business earned $0.75 EPS. Adobe Systems’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, analysts anticipate that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.
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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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