KCG Holdings Inc. decreased its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 55.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,758 shares of the software company’s stock after selling 21,222 shares during the period. KCG Holdings Inc.’s holdings in Adobe Systems were worth $2,181,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Clean Yield Group purchased a new position in Adobe Systems during the first quarter worth approximately $100,000. Washington Trust Bank boosted its position in Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock worth $109,000 after buying an additional 102 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Adobe Systems during the first quarter worth approximately $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the last quarter. Finally, WFG Advisors LP boosted its position in Adobe Systems by 10.1% in the first quarter. WFG Advisors LP now owns 1,263 shares of the software company’s stock worth $164,000 after buying an additional 116 shares during the last quarter. 88.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Adobe Systems Incorporated (ADBE) opened at 146.47 on Friday. Adobe Systems Incorporated has a one year low of $97.87 and a one year high of $150.40. The firm has a 50-day moving average of $145.74 and a 200-day moving average of $133.08. The firm has a market capitalization of $72.27 billion, a P/E ratio of 51.02 and a beta of 1.00.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company’s revenue was up 26.7% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. On average, equities analysts predict that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.
Several research firms recently issued reports on ADBE. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $157.00 price target on shares of Adobe Systems in a report on Monday, July 31st. Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 price target on the stock in a report on Tuesday, July 18th. BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 4th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Adobe Systems in a report on Monday, June 26th. Finally, KeyCorp reaffirmed a “buy” rating on shares of Adobe Systems in a report on Sunday, June 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $154.20.
In other news, EVP Donna Morris sold 10,000 shares of Adobe Systems stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total value of $281,232.00. Following the transaction, the executive vice president now owns 59,991 shares in the company, valued at approximately $8,638,704. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,239 shares of company stock valued at $14,877,475. Corporate insiders own 0.38% of the company’s stock.
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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