Seven Bridges Advisors LLC Has $417,000 Position in Adobe Systems Inc. (ADBE)
Seven Bridges Advisors LLC cut its stake in shares of Adobe Systems Inc. (NASDAQ:ADBE) by 78.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,355 shares of the software company’s stock after selling 15,505 shares during the period. Seven Bridges Advisors LLC’s holdings in Adobe Systems were worth $417,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC raised its stake in Adobe Systems by 231.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the software company’s stock worth $128,000 after buying an additional 935 shares during the period. NEXT Financial Group Inc raised its stake in Adobe Systems by 57.0% in the second quarter. NEXT Financial Group Inc now owns 1,440 shares of the software company’s stock worth $137,000 after buying an additional 523 shares during the period. Alpha Windward LLC raised its stake in Adobe Systems by 1,019.3% in the second quarter. Alpha Windward LLC now owns 1,567 shares of the software company’s stock worth $150,000 after buying an additional 1,427 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC raised its stake in Adobe Systems by 4.7% in the second quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 2,250 shares of the software company’s stock worth $216,000 after buying an additional 100 shares during the period. Finally, Cypress Wealth Advisors LLC acquired a new stake in Adobe Systems during the first quarter worth approximately $231,000. Institutional investors own 87.88% of the company’s stock.
Adobe Systems Inc. (NASDAQ:ADBE) traded up 0.94% during trading on Tuesday, reaching $100.62. The company’s stock had a trading volume of 4,104,871 shares. Adobe Systems Inc. has a 12 month low of $71.27 and a 12 month high of $104.16. The company has a market cap of $50.14 billion, a P/E ratio of 56.85 and a beta of 1.24. The stock’s 50-day moving average is $100.45 and its 200 day moving average is $96.50.
Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. Adobe Systems had a net margin of 16.88% and a return on equity of 13.86%. During the same quarter in the previous year, the business earned $0.54 earnings per share. Adobe Systems’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities analysts forecast that Adobe Systems Inc. will post $2.87 EPS for the current fiscal year.
A number of equities research analysts recently commented on the company. Credit Suisse Group AG increased their price target on Adobe Systems from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 1st. Vetr lowered Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $109.00 price target on the stock. in a research report on Tuesday, May 24th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $105.00 price target (up from $100.00) on shares of Adobe Systems in a research report on Wednesday, June 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $104.00 price target on shares of Adobe Systems in a research report on Wednesday, June 22nd. Finally, Piper Jaffray Cos. assumed coverage on Adobe Systems in a research report on Monday, July 25th. They set an “overweight” rating and a $125.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $105.64.
In other news, Chairman John E. Warnock sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $98.51, for a total transaction of $197,020.00. Following the transaction, the chairman now owns 16,088 shares in the company, valued at $1,584,828.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Richard Rowley sold 271 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $95.68, for a total transaction of $25,929.28. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
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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