Strategic Financial Group LLC maintained its stake in Adobe Systems Incorporated (NASDAQ:ADBE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,790 shares of the software company’s stock at the end of the 2nd quarter. Strategic Financial Group LLC’s holdings in Adobe Systems were worth $253,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in ADBE. Clean Yield Group purchased a new stake in Adobe Systems during the 1st quarter valued at approximately $100,000. Capital Advisors Ltd. LLC purchased a new position in shares of Adobe Systems in the second quarter valued at $100,000. CWM LLC grew its holdings in shares of Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after purchasing an additional 79 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Adobe Systems in the first quarter valued at $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in shares of 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 valued at $141,000 after purchasing an additional 500 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.
In other Adobe Systems news, Director John E. Warnock sold 32,600 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $2,317,798.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Ann Lewnes sold 1,953 shares of the 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. Insiders sold a total of 102,239 shares of company stock worth $14,877,475 in the last ninety days. 0.38% of the stock is owned by corporate insiders.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 155.34 on Monday. The company has a market capitalization of $76.65 billion, a P/E ratio of 54.11 and a beta of 1.00. Adobe Systems Incorporated has a 12-month low of $97.87 and a 12-month high of $156.06. The company has a 50 day moving average price of $150.04 and a 200 day moving average price of $138.04.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. Adobe Systems’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. Equities analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current year.
A number of research analysts recently weighed in on ADBE shares. BidaskClub lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Citigroup Inc. reissued a “buy” rating and issued a $161.00 target price (up from $141.00) on shares of Adobe Systems in a report on Tuesday, June 13th. Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.24 target price for the company in a report on Wednesday, June 7th. Canaccord Genuity reissued a “buy” rating and issued a $165.00 target price (up from $145.00) on shares of Adobe Systems in a report on Wednesday, June 21st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $184.00 target price (up from $160.00) on shares of Adobe Systems in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $153.88.
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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