Adobe Systems Incorporated (NASDAQ:ADBE) Stake Increased by Morgan Stanley

Morgan Stanley boosted its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 52.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,624,287 shares of the software company’s stock after buying an additional 557,169 shares during the period. Morgan Stanley’s holdings in Adobe Systems were worth $211,367,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. 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 buying an additional 13 shares during the period. Trust Co increased its position in Adobe Systems by 0.6% in the fourth quarter. Trust Co now owns 2,677 shares of the software company’s stock worth $275,000 after buying an additional 15 shares in the last quarter. Alpha Windward LLC increased its position in Adobe Systems by 0.9% in the first quarter. Alpha Windward LLC now owns 1,655 shares of the software company’s stock worth $215,000 after buying an additional 15 shares in the last quarter. First National Bank of Hutchinson increased its position in Adobe Systems by 0.5% in the first quarter. First National Bank of Hutchinson now owns 5,973 shares of the software company’s stock worth $777,000 after buying an additional 28 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in Adobe Systems by 1.0% in the fourth quarter. Perigon Wealth Management LLC now owns 2,959 shares of the software company’s stock worth $355,000 after buying an additional 29 shares in the last quarter. Institutional investors own 88.05% of the company’s stock.

Shares of Adobe Systems Incorporated (ADBE) opened at 146.47 on Friday. The company has a market capitalization of $72.27 billion, a PE ratio of 51.02 and a beta of 1.00. The firm has a 50-day moving average price of $145.74 and a 200-day moving average price of $133.08. Adobe Systems Incorporated has a 12 month low of $97.87 and a 12 month high of $150.40.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, equities research analysts predict that Adobe Systems Incorporated will post $4.06 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This article was posted by Community Financial News and is owned by of Community Financial News. If you are reading this article on another site, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this article can be viewed at https://www.com-unik.info/2017/08/12/morgan-stanley-has-211-37-million-stake-in-adobe-systems-incorporated-nasdaqadbe-updated-updated.html.

Several equities analysts have recently issued reports on ADBE shares. Vetr cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 price objective on the stock. in a research note on Tuesday, June 20th. Canaccord Genuity reiterated a “buy” rating and issued a $165.00 price target (up from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $157.00 price target on shares of Adobe Systems in a research report on Monday, July 31st. Piper Jaffray Companies boosted their price target on shares of Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Finally, BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $154.20.

In related news, EVP Ann Lewnes sold 2,233 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $139.29, for a total value of $311,034.57. Following the sale, the executive vice president now directly owns 61,944 shares of the company’s stock, valued at $8,628,179.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John E. Warnock sold 32,600 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares in the company, valued at $2,317,798.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,239 shares of company stock worth $14,877,475. Company 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.

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

What are top analysts saying about Adobe Systems Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Adobe Systems Incorporated and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit