Adobe Systems Incorporated (ADBE) Shares Bought by Barings LLC

Barings LLC increased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 805.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,189 shares of the software company’s stock after buying an additional 60,654 shares during the period. Barings LLC’s holdings in Adobe Systems were worth $8,873,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Murphy Capital Management Inc. bought a new position in Adobe Systems during the first quarter worth $244,000. BTIM Corp. raised its position in Adobe Systems by 2.5% in the first quarter. BTIM Corp. now owns 6,698 shares of the software company’s stock worth $872,000 after buying an additional 162 shares during the period. Ameriprise Financial Inc. raised its position in Adobe Systems by 7.0% in the first quarter. Ameriprise Financial Inc. now owns 5,332,348 shares of the software company’s stock worth $693,890,000 after buying an additional 349,088 shares during the period. Regentatlantic Capital LLC raised its position in Adobe Systems by 3.4% in the first quarter. Regentatlantic Capital LLC now owns 12,463 shares of the software company’s stock worth $1,622,000 after buying an additional 404 shares during the period. Finally, Morgan Stanley raised its position in Adobe Systems by 52.2% in the first quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock worth $211,367,000 after buying an additional 557,169 shares during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at 147.97 on Friday. Adobe Systems Incorporated has a 52-week low of $97.87 and a 52-week high of $151.99. The stock’s 50 day moving average price is $146.59 and its 200-day moving average price is $134.36. The company has a market capitalization of $73.01 billion, a PE ratio of 51.54 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. The company had revenue of $1.77 billion for 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 firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. On average, analysts expect that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.

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A number of equities research analysts have commented on ADBE shares. Barclays PLC started coverage on Adobe Systems in a research report on Tuesday, May 2nd. They set an “overweight” rating and a $155.00 price objective for the company. Robert W. Baird restated an “outperform” rating and set a $160.00 price objective (up from $140.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a research report on Friday, June 23rd. Royal Bank Of Canada raised their price objective on Adobe Systems from $135.00 to $157.00 and gave the stock an “outperform” rating in a research report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Adobe Systems in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, four have assigned 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 a consensus rating of “Buy” and a consensus price target of $154.20.

In other Adobe Systems news, Director John E. Warnock sold 32,600 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the transaction, the director now owns 16,088 shares in the company, valued at approximately $2,317,798.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ann Lewnes sold 2,233 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $139.29, for a total value of $311,034.57. Following the transaction, the executive vice president now owns 61,944 shares in the company, valued at approximately $8,628,179.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,239 shares of company stock worth $14,877,475. 0.38% of the stock is owned by corporate insiders.

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)

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