Balentine LLC trimmed its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,477 shares of the software company’s stock after selling 1 shares during the quarter. Balentine LLC’s holdings in Adobe Systems were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC acquired a new position in Adobe Systems during the 2nd quarter worth approximately $100,000. CWM LLC raised its stake in 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 during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in 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 during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in Adobe Systems during the 2nd quarter worth approximately $141,000. Finally, Acrospire Investment Management LLC raised its stake in Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the period. 87.51% of the stock is currently owned by institutional investors.
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A number of research firms recently weighed in on ADBE. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note 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 research note on Wednesday, September 20th. Piper Jaffray Companies upped their price target on Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Stifel Nicolaus upped their price target on Adobe Systems from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. Finally, Barclays PLC upped their price target on Adobe Systems from $155.00 to $161.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $158.16.
In other Adobe Systems news, CMO Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total value of $286,466.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Abhay Parasnis sold 12,500 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 28,359 shares of company stock worth $4,255,181. Corporate insiders own 0.38% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.40% during midday trading on Friday, hitting $154.23. The company had a trading volume of 232,774 shares. The firm has a market capitalization of $76.03 billion, a P/E ratio of 48.48 and a beta of 0.98. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $157.89. The stock has a 50 day moving average price of $151.92 and a 200 day moving average price of $143.08.
Adobe Systems (NASDAQ:ADBE) last issued 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. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, equities analysts anticipate that Adobe Systems Incorporated will post $4.22 EPS for the current fiscal 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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