Adobe Systems Incorporated (ADBE) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC cut its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 9.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,819 shares of the software company’s stock after selling 3,740 shares during the quarter. Sentry Investment Management LLC’s holdings in Adobe Systems were worth $4,925,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. 1ST Source Bank raised its stake in shares of Adobe Systems by 0.3% in the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after purchasing an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock worth $250,000 after purchasing an additional 13 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after purchasing an additional 13 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Adobe Systems by 0.6% in the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after purchasing an additional 16 shares during the last quarter. Finally, Bank of Stockton raised its stake in shares of Adobe Systems by 0.4% in the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 87.49% of the company’s stock.

Shares of Adobe Systems Incorporated (ADBE) traded down 1.28% during trading on Tuesday, reaching $148.54. The company had a trading volume of 1,323,236 shares. The firm’s 50 day moving average price is $152.02 and its 200 day moving average price is $143.47. The firm has a market capitalization of $73.22 billion, a P/E ratio of 46.70 and a beta of 0.99. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $157.89.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. Adobe Systems’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. Equities analysts predict that Adobe Systems Incorporated will post $4.22 EPS for the current year.

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In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total transaction of $304,433.64. Following the sale, the executive vice president now owns 56,356 shares in the company, valued at approximately $8,784,773.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Abhay Parasnis sold 12,500 shares of the stock in a transaction on Friday, July 21st. The shares were sold at an average price of $149.38, for a total value of $1,867,250.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,359 shares of company stock worth $4,255,181. 0.38% of the stock is owned by insiders.

Several research analysts have recently issued reports on ADBE shares. Credit Suisse Group restated an “outperform” rating and issued a $150.00 price objective on shares of Adobe Systems in a research note on Tuesday, June 20th. Vetr cut Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 price objective for the company. in a research note on Tuesday, June 20th. Pivotal Research restated a “sell” rating and issued a $114.00 price objective (up from $112.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. BMO Capital Markets raised their price objective on Adobe Systems from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 21st. Finally, J P Morgan Chase & Co raised their price objective on Adobe Systems from $145.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $158.16.

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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