Bank of Hawaii grew its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 59.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,330 shares of the software company’s stock after purchasing an additional 1,610 shares during the period. Bank of Hawaii’s holdings in Adobe Systems were worth $612,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Aviva PLC grew its position in shares of Adobe Systems by 0.4% during the 2nd quarter. Aviva PLC now owns 312,394 shares of the software company’s stock worth $44,194,000 after purchasing an additional 1,250 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Adobe Systems by 7.0% during the 1st quarter. Ameriprise Financial Inc. now owns 5,332,348 shares of the software company’s stock worth $693,890,000 after purchasing an additional 349,088 shares in the last quarter. Morgan Stanley grew its position in shares of Adobe Systems by 52.2% during the 1st quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock worth $211,367,000 after purchasing an additional 557,169 shares in the last quarter. Gofen & Glossberg LLC IL grew its position in shares of Adobe Systems by 2.7% during the 1st quarter. Gofen & Glossberg LLC IL now owns 25,943 shares of the software company’s stock worth $3,376,000 after purchasing an additional 673 shares in the last quarter. Finally, Arcadia Investment Management Corp MI grew its position in shares of Adobe Systems by 6.9% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock worth $4,886,000 after purchasing an additional 2,242 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

In other Adobe Systems news, CMO Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total transaction of $286,466.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Abhay Parasnis sold 12,500 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $149.38, for a total transaction of $1,867,250.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,359 shares of company stock worth $7,868,382. Insiders own 0.38% of the company’s stock.

Shares of Adobe Systems Incorporated (ADBE) opened at 150.25 on Friday. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $157.89. The stock’s 50 day moving average is $151.54 and its 200 day moving average is $142.15. The firm has a market capitalization of $74.06 billion, a PE ratio of 47.23 and a beta of 0.98.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. The business had revenue of $1.84 billion for 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 company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. On average, equities research analysts forecast that Adobe Systems Incorporated will post $4.22 EPS for the current year.

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ADBE has been the topic of a number of analyst reports. Canaccord Genuity restated a “buy” rating and set a $165.00 target price (up previously from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Vetr downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 price target for the company. in a report on Tuesday, June 20th. BidaskClub downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Citigroup Inc. reaffirmed a “buy” rating and set a $161.00 price target (up previously from $141.00) on shares of Adobe Systems in a report on Tuesday, June 13th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $184.00 price target (up previously from $160.00) on shares of Adobe Systems in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Adobe Systems presently has an average rating of “Buy” and an average price target of $158.16.

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.

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

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