Adobe Systems Incorporated (NASDAQ:ADBE) Shares Bought by Morgan Stanley

Morgan Stanley increased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 52.2% during the first quarter, according to its most recent 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 filing with the SEC.

Other large investors also recently bought and sold shares of the company. Clean Yield Group bought a new stake in Adobe Systems during the first quarter worth about $100,000. Washington Trust Bank raised its stake in Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock worth $109,000 after buying an additional 102 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Adobe Systems during the first quarter worth about $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake 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 buying an additional 500 shares in the last quarter. Finally, WFG Advisors LP raised its stake in Adobe Systems by 10.1% in the first quarter. WFG Advisors LP now owns 1,263 shares of the software company’s stock worth $164,000 after buying an additional 116 shares in the last quarter. 87.64% of the stock is currently owned by institutional investors.

Adobe Systems Incorporated (ADBE) traded down 0.18% during mid-day trading on Friday, hitting $147.97. The stock had a trading volume of 1,699,265 shares. Adobe Systems Incorporated has a 12-month low of $97.87 and a 12-month high of $151.99. The company has a 50-day moving average of $146.59 and a 200-day moving average of $134.36. The stock has a market cap of $73.01 billion, a price-to-earnings ratio of 51.54 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, analysts anticipate that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.

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A number of research firms have issued reports on ADBE. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $157.00 price target on shares of Adobe Systems in a research report on Monday, July 31st. Pacific Crest increased their price target on Adobe Systems from $142.00 to $174.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Pivotal Research reissued a “sell” rating and set a $114.00 target price (up previously from $112.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Finally, Deutsche Bank AG raised their target price on Adobe Systems from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $154.20.

In other news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $144.00, for a total transaction of $281,232.00. Following the completion of the sale, the executive vice president now owns 59,991 shares in the company, valued at approximately $8,638,704. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value of $1,500,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,239 shares of company stock valued at $14,877,475 in the last quarter. Insiders own 0.38% of the company’s stock.

About Adobe Systems

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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