Capital One National Association Increases Stake in Adobe Systems Incorporated (ADBE)
Capital One National Association boosted its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,611 shares of the software company’s stock after buying an additional 340 shares during the period. Capital One National Association’s holdings in Adobe Systems were worth $369,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of ADBE. Guardian Life Insurance Co. of America raised its stake in Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after buying an additional 13 shares during the period. Perigon Wealth Management LLC raised its stake in Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock valued at $387,000 after buying an additional 13 shares during the period. Alpha Windward LLC raised its stake in Adobe Systems by 0.9% in the first quarter. Alpha Windward LLC now owns 1,655 shares of the software company’s stock valued at $215,000 after buying an additional 15 shares during the period. Brown Advisory Securities LLC raised its stake in Adobe Systems by 0.5% in the first quarter. Brown Advisory Securities LLC now owns 4,368 shares of the software company’s stock valued at $569,000 after buying an additional 21 shares during the period. Finally, HM Payson & Co. raised its stake in Adobe Systems by 0.6% in the first quarter. HM Payson & Co. now owns 3,889 shares of the software company’s stock valued at $506,000 after buying an additional 24 shares during the period. Institutional investors own 88.05% of the company’s stock.
Adobe Systems Incorporated (NASDAQ ADBE) traded down 1.21% during trading on Thursday, reaching $146.56. The company had a trading volume of 422,359 shares. The stock has a 50 day moving average price of $145.64 and a 200-day moving average price of $132.74. Adobe Systems Incorporated has a 52-week low of $97.87 and a 52-week high of $150.40. The company has a market capitalization of $72.31 billion, a PE ratio of 51.05 and a beta of 1.00.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business posted $0.71 EPS. The firm’s revenue was up 26.7% compared to the same quarter last year. On average, equities research analysts anticipate that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.
Several equities research analysts have commented on the company. Vetr lowered Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price objective for the company. in a research note on Thursday, May 25th. Barclays PLC boosted their price objective on Adobe Systems from $155.00 to $161.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Stifel Nicolaus boosted their price objective on Adobe Systems from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. Piper Jaffray Companies boosted their price objective on Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Finally, Pivotal Research restated a “sell” rating and issued a $114.00 price target (up from $112.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the company. Adobe Systems has an average rating of “Buy” and a consensus price target of $153.20.
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 value of $286,466.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Donna Morris sold 10,000 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The disclosure for this sale can be found here. Insiders sold a total of 102,239 shares of company stock worth $14,877,475 in the last quarter. 0.38% of the stock is currently owned by company 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.
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