Amica Retiree Medical Trust cut its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 33.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,943 shares of the software company’s stock after selling 976 shares during the quarter. Amica Retiree Medical Trust’s holdings in Adobe Systems were worth $290,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. 1ST Source Bank boosted its position in Adobe Systems by 0.3% during the 2nd quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after acquiring an additional 6 shares during the last quarter. Perigon Wealth Management LLC boosted its position in Adobe Systems by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after acquiring an additional 13 shares during the last quarter. Trust Co. of Vermont boosted its position in Adobe Systems by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after acquiring an additional 16 shares during the last quarter. Bank of Stockton boosted its position in Adobe Systems by 0.4% during the 2nd quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after acquiring an additional 20 shares during the last quarter. Finally, Brown Advisory Securities LLC boosted its position in Adobe Systems by 0.5% during the 1st quarter. Brown Advisory Securities LLC now owns 4,368 shares of the software company’s stock worth $569,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.
In related news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is owned by company insiders.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at $182.90 on Friday. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $185.55. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $90,159.27, a price-to-earnings ratio of 55.09, a P/E/G ratio of 3.11 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. equities analysts expect that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
A number of equities analysts have weighed in on ADBE shares. Zacks Investment Research downgraded Adobe Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 14th. Vetr downgraded Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price target for the company. in a research report on Thursday, August 31st. Robert W. Baird set a $160.00 price objective on Adobe Systems and gave the company a “buy” rating in a report on Friday, October 6th. Royal Bank Of Canada reissued a “buy” rating and issued a $157.00 price objective on shares of Adobe Systems in a report on Monday, July 31st. Finally, Bank of America Corporation increased their price objective on Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Adobe Systems has an average rating of “Buy” and an average price target of $175.43.
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.
Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems Incorporated (NASDAQ:ADBE).
Receive News & Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.