DnB Asset Management AS boosted its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,945 shares of the software company’s stock after buying an additional 600 shares during the period. DnB Asset Management AS’s holdings in Adobe Systems were worth $7,913,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co boosted its stake in Adobe Systems by 3.1% in the first quarter. CENTRAL TRUST Co now owns 3,812 shares of the software company’s stock worth $496,000 after buying an additional 114 shares in the last quarter. Forte Capital LLC ADV raised its position in shares of Adobe Systems by 4.9% in the first quarter. Forte Capital LLC ADV now owns 36,239 shares of the software company’s stock worth $4,716,000 after buying an additional 1,680 shares in the last quarter. Sheets Smith Wealth Management raised its position in shares of Adobe Systems by 0.4% in the first quarter. Sheets Smith Wealth Management now owns 9,764 shares of the software company’s stock worth $1,271,000 after buying an additional 38 shares in the last quarter. Chesley Taft & Associates LLC acquired a new position in shares of Adobe Systems during the first quarter worth $3,679,000. Finally, Gulf International Bank UK Ltd raised its position in shares of Adobe Systems by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 154,033 shares of the software company’s stock worth $20,044,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.
Shares of Adobe Systems Incorporated (ADBE) opened at 147.97 on Friday. The firm has a market cap of $73.01 billion, a price-to-earnings ratio of 51.54 and a beta of 1.00. Adobe Systems Incorporated has a 1-year low of $97.87 and a 1-year high of $151.99. The company has a 50 day moving average of $146.59 and a 200 day moving average of $134.36.
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ADBE has been the topic of a number of recent analyst reports. Barclays PLC initiated coverage on Adobe Systems in a research note on Tuesday, May 2nd. They set an “overweight” rating and a $155.00 price target on the stock. Robert W. Baird reissued an “outperform” rating and set a $160.00 price target (up previously from $140.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Zacks Investment Research raised Adobe Systems from a “hold” rating to a “buy” rating and set a $161.00 price target on the stock in a research note on Friday, June 23rd. Royal Bank Of Canada increased their price target on Adobe Systems from $135.00 to $157.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Adobe Systems in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $154.20.
In other Adobe Systems news, EVP Ann Lewnes sold 2,233 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total value of $311,034.57. Following the completion of the sale, the executive vice president now owns 61,944 shares in the company, valued at $8,628,179.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Donna Morris sold 10,000 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,239 shares of company stock valued at $14,877,475. 0.38% of the stock is owned by 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.
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