Macquarie Group Ltd. Sells 59,844 Shares of Adobe Systems Incorporated (ADBE)

Macquarie Group Ltd. cut its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 25.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,941 shares of the software company’s stock after selling 59,844 shares during the period. Macquarie Group Ltd.’s holdings in Adobe Systems were worth $24,461,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Aviva PLC boosted its position in Adobe Systems by 0.4% during the 2nd quarter. Aviva PLC now owns 312,394 shares of the software company’s stock worth $44,194,000 after buying an additional 1,250 shares during the period. Morgan Stanley boosted its position in Adobe Systems by 52.2% during the 1st quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock worth $211,367,000 after buying an additional 557,169 shares during the period. Gofen & Glossberg LLC IL boosted its position in Adobe Systems by 2.7% during the 1st quarter. Gofen & Glossberg LLC IL now owns 25,943 shares of the software company’s stock worth $3,376,000 after buying an additional 673 shares during the period. Arcadia Investment Management Corp MI boosted its position in Adobe Systems by 6.9% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock worth $4,886,000 after buying an additional 2,242 shares during the period. Finally, BARING ASSET MANAGEMENT Ltd boosted its position in Adobe Systems by 12.0% during the 2nd quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock worth $3,776,000 after buying an additional 2,864 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Several research firms recently commented on ADBE. Bank of America Corporation reiterated a “buy” rating and set a $184.00 target price (up from $160.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Credit Suisse Group reiterated a “positive” rating and set a $170.00 target price (up from $160.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Robert W. Baird reiterated a “buy” rating and set a $160.00 target price on shares of Adobe Systems in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 14th. Finally, Vetr upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $150.30 target price on the stock in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $158.16.

In other Adobe Systems news, Director Charles M. Geschke sold 25,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $145.16, for a total value of $3,629,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donna Morris sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. The disclosure for this sale can be found here. Insiders sold 51,406 shares of company stock worth $7,587,150 over the last three months. Insiders own 0.38% of the company’s stock.

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Adobe Systems Incorporated (ADBE) opened at 152.15 on Wednesday. The stock has a market capitalization of $75.00 billion, a P/E ratio of 47.83 and a beta of 0.98. Adobe Systems Incorporated has a one year low of $98.00 and a one year high of $157.89. The company has a 50 day moving average of $151.80 and a 200-day moving average of $142.93.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the company earned $0.75 EPS. Adobe Systems’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts predict that Adobe Systems Incorporated will post $4.22 earnings per share for the current fiscal year.

Adobe Systems 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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