Adobe Systems Incorporated (ADBE) Shares Sold by State of Tennessee Treasury Department

State of Tennessee Treasury Department cut its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 24.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,858 shares of the software company’s stock after selling 124,592 shares during the period. State of Tennessee Treasury Department owned 0.08% of Adobe Systems worth $57,115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norris Perne & French LLP MI lifted its holdings in Adobe Systems by 2.8% in the 3rd quarter. Norris Perne & French LLP MI now owns 61,972 shares of the software company’s stock worth $9,245,000 after purchasing an additional 1,667 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in Adobe Systems by 1.0% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 81,283 shares of the software company’s stock worth $12,126,000 after purchasing an additional 800 shares in the last quarter. Chicago Equity Partners LLC lifted its holdings in Adobe Systems by 31.6% in the 3rd quarter. Chicago Equity Partners LLC now owns 90,810 shares of the software company’s stock worth $13,547,000 after purchasing an additional 21,815 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in Adobe Systems by 11.5% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,186,532 shares of the software company’s stock worth $177,006,000 after purchasing an additional 122,808 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Adobe Systems by 4.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 74,003 shares of the software company’s stock worth $11,040,000 after purchasing an additional 2,969 shares in the last quarter. 87.68% of the stock is currently owned by institutional investors.

In related news, CMO Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Insiders sold a total of 14,849 shares of company stock valued at $2,452,281 over the last quarter. Company insiders own 0.38% of the company’s stock.

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A number of research analysts recently commented on the company. BidaskClub raised Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price target on the stock in a report on Wednesday, September 20th. Piper Jaffray Companies reissued a “buy” rating and issued a $180.00 price target on shares of Adobe Systems in a report on Tuesday, September 12th. Barclays PLC reissued a “buy” rating and issued a $167.00 price target on shares of Adobe Systems in a report on Friday, September 15th. Finally, Wells Fargo & Company reissued a “hold” rating and issued a $145.00 price target (up from $127.50) on shares of Adobe Systems in a report on Wednesday, September 20th. Seven analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Adobe Systems currently has a consensus rating of “Buy” and an average price target of $170.06.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) traded down $1.23 during mid-day trading on Monday, hitting $181.07. The company’s stock had a trading volume of 686,923 shares, compared to its average volume of 3,210,000. Adobe Systems Incorporated has a twelve month low of $98.00 and a twelve month high of $182.74. The stock has a market cap of $89,350.00, a PE ratio of 54.91, a price-to-earnings-growth ratio of 3.10 and a beta of 1.05. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. analysts forecast that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.

Adobe Systems 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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