Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,003 shares of the software company’s stock after purchasing an additional 2,969 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Adobe Systems were worth $11,040,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Wedbush Securities Inc. lifted its holdings in shares of Adobe Systems by 358.6% during the 3rd quarter. Wedbush Securities Inc. now owns 15,308 shares of the software company’s stock worth $2,284,000 after acquiring an additional 11,970 shares during the period. Syntal Capital Partners LLC lifted its holdings in Adobe Systems by 14.9% during the 3rd quarter. Syntal Capital Partners LLC now owns 5,099 shares of the software company’s stock valued at $760,000 after purchasing an additional 661 shares during the last quarter. Dupont Capital Management Corp lifted its holdings in Adobe Systems by 289.1% during the 3rd quarter. Dupont Capital Management Corp now owns 48,046 shares of the software company’s stock valued at $7,168,000 after purchasing an additional 35,698 shares during the last quarter. Andra AP fonden lifted its holdings in Adobe Systems by 3.0% during the 3rd quarter. Andra AP fonden now owns 67,383 shares of the software company’s stock valued at $10,052,000 after purchasing an additional 1,983 shares during the last quarter. Finally, Deltec Asset Management LLC lifted its holdings in Adobe Systems by 2.0% during the 3rd quarter. Deltec Asset Management LLC now owns 39,986 shares of the software company’s stock valued at $5,965,000 after purchasing an additional 800 shares during the last quarter. 87.45% of the stock is owned by hedge funds and other institutional investors.
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ADBE has been the subject of several analyst reports. Vetr upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price target for the company in a research report on Monday. Stifel Nicolaus lifted their price target on shares of Adobe Systems from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. UBS AG initiated coverage on shares of Adobe Systems in a research report on Thursday, November 9th. They set a “buy” rating and a $217.00 price target for the company. Argus boosted their price objective on shares of Adobe Systems from $170.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $190.00 price objective (up previously from $153.00) on shares of Adobe Systems in a report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $174.11.
In other news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John E. Warnock sold 6,800 shares of Adobe Systems stock in a transaction on Friday, October 20th. The stock was sold at an average price of $174.20, for a total value of $1,184,560.00. Following the sale, the director now owns 16,088 shares in the company, valued at $2,802,529.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,849 shares of company stock worth $2,519,679. Company insiders own 0.38% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) traded down $0.53 on Wednesday, hitting $181.32. The company had a trading volume of 1,549,100 shares, compared to its average volume of 2,423,482. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $184.44. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. The company has a market cap of $89,641.69, a PE ratio of 54.77, a P/E/G ratio of 3.09 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the business earned $0.75 EPS. Adobe Systems’s quarterly revenue was up 25.8% compared to the same quarter last year. analysts anticipate that Adobe Systems Incorporated will post 3.46 earnings per share for the current fiscal year.
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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