Eagle Global Advisors LLC decreased its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,635 shares of the software company’s stock after selling 125 shares during the period. Eagle Global Advisors LLC’s holdings in Adobe Systems were worth $473,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Trust Co raised its position in Adobe Systems by 0.6% in the fourth quarter. Trust Co now owns 2,677 shares of the software company’s stock worth $275,000 after buying an additional 15 shares during the period. Alpha Windward LLC raised its position in Adobe Systems by 0.9% in the first quarter. Alpha Windward LLC now owns 1,655 shares of the software company’s stock worth $215,000 after buying an additional 15 shares during the period. First National Bank of Hutchinson raised its position in Adobe Systems by 0.5% in the first quarter. First National Bank of Hutchinson now owns 5,973 shares of the software company’s stock worth $777,000 after buying an additional 28 shares during the period. Perigon Wealth Management LLC raised its position in Adobe Systems by 1.0% in the fourth quarter. Perigon Wealth Management LLC now owns 2,959 shares of the software company’s stock worth $355,000 after buying an additional 29 shares during the period. Finally, Sheets Smith Wealth Management raised its position in Adobe Systems by 0.4% in the first quarter. Sheets Smith Wealth Management now owns 9,764 shares of the software company’s stock worth $1,271,000 after buying an additional 38 shares during the period. 87.93% of the stock is currently owned by institutional investors.

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

Adobe Systems Incorporated (NASDAQ ADBE) opened at 137.84 on Friday. Adobe Systems Incorporated has a 1-year low of $90.35 and a 1-year high of $144.34. The firm has a market capitalization of $68.19 billion, a PE ratio of 52.63 and a beta of 0.98. The company’s 50-day moving average price is $138.38 and its 200 day moving average price is $122.20. Adobe Systems also saw some unusual options trading on Thursday. Stock traders bought 2,564 call options on the stock. This is an increase of 559% compared to the typical daily volume of 389 call options.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, March 16th. The software company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.87 by $0.07. Adobe Systems had a return on equity of 18.69% and a net margin of 21.34%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $0.66 earnings per share. The firm’s revenue was up 21.6% compared to the same quarter last year. On average, equities analysts anticipate that Adobe Systems Incorporated will post $3.95 EPS for the current year.

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A number of research firms have weighed in on ADBE. Morgan Stanley reissued an “equal weight” rating and set a $137.00 price objective on shares of Adobe Systems in a research note on Friday. Vetr lowered Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price objective on the stock. in a research note on Thursday, May 25th. Guggenheim reissued a “buy” rating and set a $155.00 price objective on shares of Adobe Systems in a research note on Tuesday, April 18th. Cowen and Company reissued an “outperform” rating and set a $145.00 price objective (up previously from $140.00) on shares of Adobe Systems in a research note on Friday, March 17th. Finally, Stifel Nicolaus began coverage on Adobe Systems in a research note on Tuesday, April 11th. They set a “buy” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. Adobe Systems presently has a consensus rating of “Buy” and a consensus target price of $140.51.

In other Adobe Systems news, Director Charles M. Geschke sold 59,550 shares of the firm’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $125.95, for a total value of $7,500,322.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the firm’s stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $125.00, for a total value of $279,125.00. Following the completion of the transaction, the executive vice president now directly owns 68,643 shares in the company, valued at $8,580,375. The disclosure for this sale can be found here. Insiders sold 88,482 shares of company stock worth $11,290,058 over the last three months. 0.38% of the stock is currently owned by corporate 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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