Capital Planning Advisors LLC continued to hold its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,618 shares of the software company’s stock at the close of the 2nd quarter. Capital Planning Advisors LLC’s holdings in Adobe Systems were worth $229,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. CLS Investments LLC increased its holdings in Adobe Systems by 0.6% in the 2nd quarter. CLS Investments LLC now owns 12,577 shares of the software company’s stock worth $1,779,000 after acquiring an additional 72 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Adobe Systems by 13.2% in the 2nd quarter. Pacer Advisors Inc. now owns 16,369 shares of the software company’s stock worth $2,315,000 after acquiring an additional 1,911 shares during the last quarter. Utah Retirement Systems increased its holdings in Adobe Systems by 1.2% in the 2nd quarter. Utah Retirement Systems now owns 90,522 shares of the software company’s stock worth $12,803,000 after acquiring an additional 1,100 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Adobe Systems by 1.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,031,804 shares of the software company’s stock worth $145,938,000 after acquiring an additional 10,888 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Adobe Systems by 15.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 115,096 shares of the software company’s stock worth $16,279,000 after acquiring an additional 15,261 shares during the last quarter. 87.53% of the stock is owned by institutional investors.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 156.31 on Wednesday. The company has a market capitalization of $77.12 billion, a price-to-earnings ratio of 54.44 and a beta of 1.00. Adobe Systems Incorporated has a 52-week low of $97.87 and a 52-week high of $157.89. The company’s 50 day moving average price is $150.25 and its 200 day moving average price is $138.58.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the consensus estimate 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%. Adobe Systems’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. On average, analysts predict that Adobe Systems Incorporated will post $4.06 EPS for the current year.
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Several equities research analysts recently weighed in on ADBE shares. Vetr lowered Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 price objective for the company. in a report on Tuesday, June 20th. Canaccord Genuity restated a “buy” rating and issued a $165.00 target price (up previously from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada restated a “buy” rating and issued a $157.00 target price on shares of Adobe Systems in a research note on Monday, July 31st. Finally, BMO Capital Markets restated an “outperform” rating on shares of Adobe Systems in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $153.88.
In other Adobe Systems news, Director Daniel Rosensweig sold 11,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $143.71, for a total transaction of $1,580,810.00. Following the transaction, the director now directly owns 8,801 shares in the company, valued at approximately $1,264,791.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donna Morris sold 5,000 shares of the firm’s stock in a transaction 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 100,006 shares of company stock worth $14,566,440 over the last 90 days. 0.38% of the stock is currently 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.
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