Adobe Systems Incorporated (ADBE) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 342,259 shares of the software company’s stock after selling 762 shares during the period. Neuberger Berman Group LLC owned approximately 0.07% of Adobe Systems worth $51,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADBE. Bank of Stockton raised its holdings in shares of Adobe Systems by 0.4% in the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after buying an additional 20 shares during the last quarter. Bienville Capital Management LLC raised its holdings in shares of Adobe Systems by 1.6% in the second quarter. Bienville Capital Management LLC now owns 2,032 shares of the software company’s stock worth $287,000 after buying an additional 32 shares during the last quarter. FTB Advisors Inc. raised its holdings in shares of Adobe Systems by 1.2% in the second quarter. FTB Advisors Inc. now owns 2,728 shares of the software company’s stock worth $395,000 after buying an additional 33 shares during the last quarter. People s United Financial Inc. raised its holdings in shares of Adobe Systems by 0.3% in the second quarter. People s United Financial Inc. now owns 13,776 shares of the software company’s stock worth $1,948,000 after buying an additional 40 shares during the last quarter. Finally, Capital Counsel LLC NY raised its holdings in shares of Adobe Systems by 1.0% in the second quarter. Capital Counsel LLC NY now owns 4,273 shares of the software company’s stock worth $604,000 after buying an additional 43 shares during the last quarter. Institutional investors own 87.45% of the company’s stock.

ADBE has been the subject of a number of research analyst reports. Jefferies Group initiated coverage on shares of Adobe Systems in a report on Thursday, August 24th. They issued a “buy” rating and a $175.00 price target for the company. Bank of America raised their price target on shares of Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, August 25th. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price target for the company. in a report on Thursday, August 31st. Robert W. Baird reaffirmed a “buy” rating and issued a $160.00 price target on shares of Adobe Systems in a report on Friday, September 1st. Finally, Moffett Nathanson initiated coverage on shares of Adobe Systems in a report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Adobe Systems presently has a consensus rating of “Buy” and an average price target of $186.27.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at $176.74 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a fifty-two week low of $102.47 and a fifty-two week high of $186.27. The stock has a market cap of $87,502.30, a price-to-earnings ratio of 50.14, a P/E/G ratio of 2.24 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. analysts forecast that Adobe Systems Incorporated will post 4.66 EPS for the current year.

In related news, EVP Matthew Thompson sold 2,190 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,849 shares of company stock worth $2,554,091. 0.38% of the stock is owned by company insiders.

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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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Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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