Adobe Systems Incorporated (ADBE) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. lowered its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 19.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 117,200 shares of the software company’s stock after selling 28,700 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Adobe Systems were worth $17,484,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC purchased a new position in shares of Adobe Systems during the 2nd quarter worth approximately $100,000. CWM LLC boosted its position in shares of Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after purchasing an additional 79 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Adobe Systems by 170.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after purchasing an additional 567 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Adobe Systems during the 2nd quarter worth approximately $141,000. Finally, Acrospire Investment Management LLC boosted its position in shares of Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after purchasing an additional 500 shares during the period. 87.64% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on ADBE. Citigroup Inc. increased their price objective on shares of Adobe Systems from $163.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Credit Suisse Group reaffirmed a “positive” rating and set a $170.00 price objective (up previously from $160.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Robert W. Baird reaffirmed a “buy” rating and set a $160.00 price objective on shares of Adobe Systems in a research report on Friday, September 1st. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $185.00 price objective on shares of Adobe Systems in a research report on Thursday, October 19th. Finally, Pivotal Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating and increased their price objective for the stock from $118.00 to $160.00 in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $169.75.

In other news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total transaction of $304,433.64. Following the completion of the transaction, the executive vice president now owns 56,356 shares in the company, valued at approximately $8,784,773.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of the firm’s stock in a transaction dated 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. In the last 90 days, insiders have sold 14,849 shares of company stock valued at $2,452,281. Insiders own 0.38% of the company’s stock.

Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.21% during mid-day trading on Wednesday, reaching $175.52. 723,185 shares of the company were exchanged. The company’s 50 day moving average price is $156.79 and its 200-day moving average price is $146.68. The stock has a market capitalization of $86.52 billion, a P/E ratio of 55.18 and a beta of 0.98. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $177.58.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $1.82 billion. During the same quarter last year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities analysts expect that Adobe Systems Incorporated will post $4.22 earnings per share for the current fiscal year.

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

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