Swedbank Acquires 149,665 Shares of Adobe Systems (ADBE)

Swedbank increased its holdings in Adobe Systems (NASDAQ:ADBE) by 9.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,754,120 shares of the software company’s stock after buying an additional 149,665 shares during the period. Adobe Systems comprises about 2.0% of Swedbank’s holdings, making the stock its 15th largest position. Swedbank owned about 0.36% of Adobe Systems worth $379,030,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ADBE. Teacher Retirement System of Texas raised its stake in Adobe Systems by 11.6% in the 1st quarter. Teacher Retirement System of Texas now owns 312,528 shares of the software company’s stock valued at $67,531,000 after purchasing an additional 32,550 shares during the last quarter. Karp Capital Management Corp raised its stake in Adobe Systems by 7.4% in the 1st quarter. Karp Capital Management Corp now owns 8,620 shares of the software company’s stock valued at $1,863,000 after purchasing an additional 595 shares during the last quarter. Douglass Winthrop Advisors LLC raised its stake in Adobe Systems by 75.5% in the 1st quarter. Douglass Winthrop Advisors LLC now owns 2,317 shares of the software company’s stock valued at $501,000 after purchasing an additional 997 shares during the last quarter. Penserra Capital Management LLC raised its stake in Adobe Systems by 163.8% in the 1st quarter. Penserra Capital Management LLC now owns 50,650 shares of the software company’s stock valued at $10,943,000 after purchasing an additional 31,451 shares during the last quarter. Finally, Motco raised its stake in Adobe Systems by 334.2% in the 1st quarter. Motco now owns 1,702 shares of the software company’s stock valued at $368,000 after purchasing an additional 1,310 shares during the last quarter. Institutional investors and hedge funds own 86.80% of the company’s stock.

Several research analysts recently weighed in on the stock. KeyCorp reissued an “overweight” rating and issued a $225.00 target price (up previously from $220.00) on shares of Adobe Systems in a research note on Tuesday, January 23rd. Guggenheim reissued a “buy” rating and issued a $230.00 target price on shares of Adobe Systems in a research note on Tuesday, January 23rd. Jefferies Group upped their price objective on shares of Adobe Systems to $263.00 and gave the company a “buy” rating in a research note on Friday, March 16th. Stifel Nicolaus upped their price objective on shares of Adobe Systems from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, March 12th. Finally, Barclays upped their price objective on shares of Adobe Systems from $193.00 to $221.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $219.50.

In other Adobe Systems news, Director John E. Warnock sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $216.53, for a total value of $3,031,420.00. Following the completion of the transaction, the director now owns 16,088 shares in the company, valued at approximately $3,483,534.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 2,942 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $236.59, for a total value of $696,047.78. Following the completion of the transaction, the executive vice president now owns 70,322 shares of the company’s stock, valued at approximately $16,637,481.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,819 shares of company stock valued at $10,451,729. 0.33% of the stock is owned by company insiders.

ADBE opened at $238.09 on Friday. The company has a market cap of $117.25 billion, a P/E ratio of 66.32, a price-to-earnings-growth ratio of 2.75 and a beta of 1.04. Adobe Systems has a 1 year low of $131.20 and a 1 year high of $243.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.12 and a quick ratio of 2.12.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.11. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The company’s revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) EPS. analysts expect that Adobe Systems will post 5.35 earnings per share for the current year.

Adobe Systems Company Profile

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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

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