Adobe Systems Incorporated (NASDAQ:ADBE) is Jag Capital Management LLC’s 6th Largest Position

Jag Capital Management LLC cut its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,758 shares of the software company’s stock after selling 1,470 shares during the period. Adobe Systems accounts for 3.2% of Jag Capital Management LLC’s portfolio, making the stock its 6th largest position. Jag Capital Management LLC’s holdings in Adobe Systems were worth $16,090,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guardian Life Insurance Co. of America raised its position 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 worth $250,000 after buying an additional 13 shares during the period. Perigon Wealth Management LLC raised its position 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 worth $387,000 after buying an additional 13 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. Trust Co. of Vermont raised its position in Adobe Systems by 0.6% in the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after buying an additional 16 shares during the period. Finally, Brown Advisory Securities LLC raised its position 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 worth $569,000 after buying an additional 21 shares during the period. 88.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) traded up 1.07% during trading on Friday, reaching $146.47. 1,382,926 shares of the company traded hands. The company’s 50-day moving average price is $145.74 and its 200-day moving average price is $133.08. 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 $72.27 billion, a P/E ratio of 51.02 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data 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. 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 analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.71 EPS. The company’s revenue was up 26.7% on a year-over-year basis. Equities research analysts forecast that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.

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ADBE has been the topic of a number of recent analyst reports. Vetr lowered shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price target on the stock. in a research report on Thursday, May 25th. Pivotal Research reissued a “sell” rating and set a $114.00 price target (up from $112.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Piper Jaffray Companies raised their price target on shares of Adobe Systems from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Stifel Nicolaus raised their price target on shares of Adobe Systems from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Finally, Barclays PLC raised their price target on shares of Adobe Systems from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the stock. Adobe Systems currently has an average rating of “Buy” and an average target price of $154.20.

In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were 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 approximately $8,638,704. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Abhay Parasnis sold 12,500 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $149.38, for a total transaction of $1,867,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,239 shares of company stock valued at $14,877,475. 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.

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

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