State of Alaska Department of Revenue raised its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 19.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,752 shares of the software company’s stock after buying an additional 280 shares during the period. State of Alaska Department of Revenue’s holdings in Adobe Systems were worth $247,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Clean Yield Group acquired a new stake in shares of Adobe Systems during the first quarter worth about $100,000. Washington Trust Bank boosted its stake in shares of Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock worth $109,000 after buying an additional 102 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Adobe Systems during the first quarter worth about $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in shares of Adobe Systems by 25.0% in the first quarter. Proficio Capital Partners LLC now owns 1,220 shares of the software company’s stock worth $172,000 after buying an additional 244 shares during the last quarter. 87.64% of the stock is currently owned by institutional investors and hedge funds.

Adobe Systems Incorporated (NASDAQ ADBE) traded up 0.47% during mid-day trading on Tuesday, reaching $149.86. 379,926 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $145.85 and its 200 day moving average price is $133.62. The firm has a market cap of $73.94 billion, a price-to-earnings ratio of 52.20 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 announced its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. Adobe Systems’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. On average, equities analysts forecast that Adobe Systems Incorporated will post $4.06 EPS for the current year.

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A number of brokerages have issued reports on ADBE. Royal Bank Of Canada reissued a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a report on Monday, July 31st. BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 4th. Pacific Crest boosted their target price on shares of Adobe Systems from $142.00 to $174.00 and gave the company an “overweight” rating in a report on Wednesday, June 21st. Pivotal Research reissued a “sell” rating and set a $114.00 target price (up previously from $112.00) on shares of Adobe Systems in a report on Wednesday, June 21st. Finally, Deutsche Bank AG boosted their target price on shares of Adobe Systems from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Adobe Systems has an average rating of “Buy” and an average price target of $154.20.

In other news, Director John E. Warnock sold 32,600 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $144.07, for a total value of $4,696,682.00. Following the sale, the director now directly owns 16,088 shares in the company, valued at approximately $2,317,798.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,239 shares of company stock worth $14,877,475. Insiders own 0.38% of the company’s stock.

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

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