Hanseatic Management Services Inc. reduced its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 35.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,421 shares of the software company’s stock after selling 1,302 shares during the period. Hanseatic Management Services Inc.’s holdings in Adobe Systems were worth $361,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ADBE. Aviva PLC raised its position in shares of Adobe Systems by 0.4% in the 2nd quarter. Aviva PLC now owns 312,394 shares of the software company’s stock valued at $44,194,000 after purchasing an additional 1,250 shares during the last quarter. Bender Robert & Associates purchased a new position in shares of Adobe Systems in the 3rd quarter valued at approximately $3,476,000. Morgan Stanley raised its position in shares of Adobe Systems by 52.2% in the 1st quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock valued at $211,367,000 after purchasing an additional 557,169 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in shares of Adobe Systems by 6.9% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock valued at $4,886,000 after purchasing an additional 2,242 shares during the last quarter. Finally, BARING ASSET MANAGEMENT Ltd raised its position in shares of Adobe Systems by 12.0% in the 2nd quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock valued at $3,776,000 after purchasing an additional 2,864 shares during the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.
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Several brokerages recently commented on ADBE. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Vetr raised shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price target for the company in a research report on Wednesday, September 20th. Barclays PLC reissued a “buy” rating and set a $167.00 price target on shares of Adobe Systems in a research report on Friday, September 15th. Piper Jaffray Companies reissued a “buy” rating and set a $180.00 price target on shares of Adobe Systems in a research report on Tuesday, September 12th. Finally, Wells Fargo & Company reissued a “hold” rating and set a $145.00 price target (up from $127.50) on shares of Adobe Systems in a research report on Wednesday, September 20th. Six investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. Adobe Systems currently has a consensus rating of “Buy” and an average price target of $174.11.
Adobe Systems Incorporated (ADBE) traded up $1.04 during midday trading on Thursday, hitting $181.12. The stock had a trading volume of 589,243 shares, compared to its average volume of 2,421,480. Adobe Systems Incorporated has a fifty-two week low of $98.00 and a fifty-two week high of $184.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market cap of $89,310.00, a price-to-earnings ratio of 54.61, a PEG ratio of 3.08 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. equities research analysts expect that Adobe Systems Incorporated will post 3.46 earnings per share for the current fiscal year.
In related news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total value of $297,031.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of 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 sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is owned by insiders.
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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