ETRADE Capital Management LLC increased its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 67.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,059 shares of the software company’s stock after buying an additional 4,459 shares during the period. ETRADE Capital Management LLC’s holdings in Adobe Systems were worth $1,201,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Bank of Hawaii bought a new stake in Adobe Systems during the second quarter valued at about $379,000. Riverpark Capital Management LLC acquired a new position in Adobe Systems during the second quarter valued at $3,302,000. Bank of New York Mellon Corp boosted its position in Adobe Systems by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 15,555,000 shares of the software company’s stock valued at $1,490,013,000 after buying an additional 211,475 shares during the period. Shelton Capital Management boosted its position in Adobe Systems by 5.2% in the second quarter. Shelton Capital Management now owns 42,324 shares of the software company’s stock valued at $4,054,000 after buying an additional 2,100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Adobe Systems by 0.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,504 shares of the software company’s stock valued at $6,562,000 after buying an additional 596 shares during the period. Hedge funds and other institutional investors own 87.25% of the company’s stock.

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

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at 118.93 on Friday. Adobe Systems Incorporated has a 12-month low of $79.51 and a 12-month high of $119.47. The firm has a market capitalization of $58.76 billion, a price-to-earnings ratio of 51.26 and a beta of 1.06. The company has a 50-day moving average price of $111.62 and a 200 day moving average price of $106.02.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, December 15th. The software company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. Adobe Systems had a return on equity of 17.23% and a net margin of 19.96%. The firm had revenue of $1.61 billion for the quarter. During the same period in the previous year, the company posted $0.62 EPS. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities research analysts expect that Adobe Systems Incorporated will post $3.82 earnings per share for the current fiscal year.

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ADBE has been the topic of several research analyst reports. Vetr raised Adobe Systems from a “hold” rating to a “buy” rating and set a $117.99 target price on the stock in a research note on Monday, January 30th. Deutsche Bank AG reaffirmed a “buy” rating and set a $125.00 target price on shares of Adobe Systems in a research note on Thursday, November 3rd. BTIG Research initiated coverage on Adobe Systems in a research note on Wednesday, November 16th. They set a “neutral” rating on the stock. Wunderlich reaffirmed a “hold” rating and set a $115.00 target price (up previously from $99.00) on shares of Adobe Systems in a research note on Thursday, November 3rd. Finally, Pacific Crest reaffirmed a “buy” rating and set a $122.00 target price on shares of Adobe Systems in a research note on Thursday, November 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $116.54.

In other news, CFO Mark Garrett sold 45,199 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $114.12, for a total transaction of $5,158,109.88. Following the sale, the chief financial officer now owns 6,339 shares of the company’s stock, valued at $723,406.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Shantanu Narayen sold 173,703 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $113.91, for a total value of $19,786,508.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 402,890 shares of company stock worth $45,138,298. 0.43% of the stock is currently 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.

5 Day Chart for NASDAQ:ADBE

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