Meag Munich Ergo Kapitalanlagegesellschaft MBH Has $638,000 Stake in Adobe Systems Incorporated (ADBE)
Meag Munich Ergo Kapitalanlagegesellschaft MBH reduced its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 79.7% during the second quarter, Holdings Channel reports. The institutional investor owned 4,529 shares of the software company’s stock after selling 17,751 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Adobe Systems were worth $638,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after buying an additional 30,228,013 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Adobe Systems by 92.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,372,838 shares of the software company’s stock worth $438,907,000 after buying an additional 1,619,111 shares in the last quarter. Egerton Capital UK LLP bought a new stake in shares of Adobe Systems during the first quarter worth $209,666,000. Pioneer Investment Management Inc. bought a new stake in shares of Adobe Systems during the first quarter worth $201,774,000. Finally, Wellington Management Group LLP boosted its stake in shares of Adobe Systems by 40.3% in the first quarter. Wellington Management Group LLP now owns 4,009,357 shares of the software company’s stock worth $521,737,000 after buying an additional 1,152,281 shares in the last quarter. 88.05% of the stock is owned by institutional investors.
Adobe Systems Incorporated (ADBE) traded up 1.26% during midday trading on Friday, reaching $146.74. The company had a trading volume of 738,360 shares. The stock’s 50 day moving average is $145.66 and its 200 day moving average is $132.82. The company has a market capitalization of $72.40 billion, a PE ratio of 51.11 and a beta of 1.00. Adobe Systems Incorporated has a one year low of $97.87 and a one year high of $150.40.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. Equities research analysts forecast that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.
ADBE has been the subject of a number of analyst reports. Barclays PLC initiated coverage on Adobe Systems in a research report on Tuesday, May 2nd. They issued an “overweight” rating and a $155.00 price target for the company. Guggenheim reaffirmed a “buy” rating and issued a $155.00 price target on shares of Adobe Systems in a research report on Tuesday, April 18th. Robert W. Baird reaffirmed an “outperform” rating and issued a $160.00 price target (up previously from $140.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Zacks Investment Research raised Adobe Systems from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a research report on Friday, June 23rd. Finally, Royal Bank Of Canada boosted their price objective on Adobe Systems from $135.00 to $157.00 and gave the stock an “outperform” rating in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $154.20.
In other Adobe Systems news, EVP Abhay Parasnis sold 12,500 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $149.38, for a total value of $1,867,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was 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 directly owns 59,991 shares of the company’s stock, valued at $8,638,704. The disclosure for this sale can be found here. Insiders sold a total of 102,239 shares of company stock valued at $14,877,475 over the last ninety days. 0.38% of the stock is currently owned by 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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