Ally Financial Inc. trimmed its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 80.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the software company’s stock after selling 16,000 shares during the quarter. Ally Financial Inc.’s holdings in Adobe Systems were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Adobe Systems by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 771,616 shares of the software company’s stock worth $109,138,000 after purchasing an additional 12,628 shares in the last quarter. Virtu KCG Holdings LLC boosted its position in shares of Adobe Systems by 48.7% during the second quarter. Virtu KCG Holdings LLC now owns 24,927 shares of the software company’s stock worth $3,526,000 after purchasing an additional 8,169 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Adobe Systems by 278.6% during the second quarter. Renaissance Technologies LLC now owns 454,700 shares of the software company’s stock worth $64,313,000 after purchasing an additional 334,600 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Adobe Systems by 53.4% during the second quarter. Parametric Portfolio Associates LLC now owns 1,356,065 shares of the software company’s stock worth $191,802,000 after purchasing an additional 472,124 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in shares of Adobe Systems by 39.2% during the second quarter. Advisor Group Inc. now owns 19,831 shares of the software company’s stock worth $2,724,000 after purchasing an additional 5,587 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on ADBE. BMO Capital Markets reissued an “outperform” rating on shares of Adobe Systems in a research report on Tuesday, September 12th. Jefferies Group LLC reissued a “buy” rating and set a $175.00 price target on shares of Adobe Systems in a research report on Tuesday, September 12th. Canaccord Genuity reissued a “buy” rating and set a $170.00 price target (up from $165.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. Wells Fargo & Company reissued a “hold” rating and set a $145.00 price target (up from $127.50) on shares of Adobe Systems in a research report on Wednesday, September 20th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $163.00 price target on shares of Adobe Systems in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $158.16.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 147.95 on Thursday. The company has a market cap of $72.93 billion, a P/E ratio of 46.51 and a beta of 0.98. Adobe Systems Incorporated has a one year low of $98.00 and a one year high of $157.89. The company’s 50 day moving average is $151.58 and its 200 day moving average is $142.09.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, equities analysts predict that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.

In related news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were 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 $8,638,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles M. Geschke sold 25,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $145.16, for a total transaction of $3,629,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,359 shares of company stock valued at $7,868,382. 0.38% of the stock is currently owned by corporate insiders.

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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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