Capstone Asset Management Co. reduced its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 44,453 shares of the software company’s stock after selling 443 shares during the period. Capstone Asset Management Co.’s holdings in Adobe Systems were worth $6,287,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. First Hawaiian Bank acquired a new stake in shares of Adobe Systems during the second quarter worth about $237,000. Capital One National Association boosted its stake in shares of Adobe Systems by 15.0% in the second quarter. Capital One National Association now owns 2,611 shares of the software company’s stock worth $369,000 after buying an additional 340 shares during the last quarter. Centre Asset Management LLC boosted its stake in shares of Adobe Systems by 2.6% in the second quarter. Centre Asset Management LLC now owns 83,860 shares of the software company’s stock worth $11,861,000 after buying an additional 2,140 shares during the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Adobe Systems by 11.1% in the second quarter. Xact Kapitalforvaltning AB now owns 83,150 shares of the software company’s stock worth $11,761,000 after buying an additional 8,305 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in shares of Adobe Systems by 1.1% in the second quarter. DnB Asset Management AS now owns 55,945 shares of the software company’s stock worth $7,913,000 after buying an additional 600 shares during the last quarter. 88.05% of the stock is owned by institutional investors.

Shares of Adobe Systems Incorporated (ADBE) traded down 1.21% during mid-day trading on Thursday, hitting $146.56. 422,359 shares of the stock traded hands. Adobe Systems Incorporated has a 52 week low of $97.87 and a 52 week high of $150.40. The firm’s 50-day moving average is $145.64 and its 200-day moving average is $132.74. The stock has a market cap of $72.31 billion, a price-to-earnings ratio of 51.05 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 26.7% compared to the same quarter last year. On average, analysts forecast that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.

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A number of brokerages have recently issued reports on ADBE. Royal Bank Of Canada reissued a “buy” rating and issued a $157.00 target price on shares of Adobe Systems in a research report on Monday, July 31st. Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 target price for the company in a research report on Tuesday, July 18th. BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Adobe Systems in a research report on Monday, June 26th. Finally, KeyCorp reissued a “buy” rating on shares of Adobe Systems in a research report on Sunday, June 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $153.20.

In related news, EVP Donna Morris sold 10,000 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Abhay Parasnis sold 12,500 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $149.38, for a total value of $1,867,250.00. The disclosure for this sale can be found here. Insiders have sold 102,239 shares of company stock worth $14,877,475 over the last three months. Insiders own 0.38% of the company’s stock.

About Adobe Systems

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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