BlueCrest Capital Management Ltd purchased a new position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,084 shares of the software company’s stock, valued at approximately $295,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Advisors Ltd. LLC purchased a new position in Adobe Systems in the second quarter worth $100,000. CWM LLC raised its position in Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after acquiring an additional 79 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised 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 acquiring an additional 500 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in Adobe Systems in the second quarter worth $141,000. Finally, Acrospire Investment Management LLC raised its position in Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares in the last quarter. 87.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up 2.06% during midday trading on Friday, hitting $177.33. The company had a trading volume of 2,807,106 shares. The firm has a market cap of $87.41 billion, a price-to-earnings ratio of 55.75 and a beta of 0.98. The company’s 50 day moving average is $155.70 and its 200 day moving average is $145.90. Adobe Systems Incorporated has a one year low of $98.00 and a one year high of $177.58.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. Equities analysts forecast that Adobe Systems Incorporated will post $4.22 earnings per share for the current fiscal year.
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In other Adobe Systems news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 16,088 shares in the company, valued at $2,802,529.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,849 shares of company stock valued at $2,452,281. 0.38% of the stock is owned by company insiders.
Several research analysts have issued reports on ADBE shares. BidaskClub cut Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 price objective for the company in a research report on Tuesday, July 18th. Royal Bank Of Canada reiterated a “buy” rating and issued a $157.00 price objective on shares of Adobe Systems in a research report on Monday, July 31st. Jefferies Group LLC started coverage on Adobe Systems in a research report on Thursday, August 24th. They issued a “buy” rating and a $175.00 price target for the company. Finally, Bank of America Corporation raised their price target on Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $169.75.
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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