Dimensional Fund Advisors LP increased its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 758,988 shares of the software company’s stock after buying an additional 78,627 shares during the period. Dimensional Fund Advisors LP’s holdings in Adobe Systems were worth $98,764,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of ADBE. Murphy Capital Management Inc. bought a new stake in Adobe Systems during the first quarter valued at $244,000. BTIM Corp. increased its stake in Adobe Systems by 2.5% in the first quarter. BTIM Corp. now owns 6,698 shares of the software company’s stock valued at $872,000 after buying an additional 162 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Adobe Systems by 7.0% in the first quarter. Ameriprise Financial Inc. now owns 5,332,348 shares of the software company’s stock valued at $693,890,000 after buying an additional 349,088 shares in the last quarter. Regentatlantic Capital LLC increased its stake in Adobe Systems by 3.4% in the first quarter. Regentatlantic Capital LLC now owns 12,463 shares of the software company’s stock valued at $1,622,000 after buying an additional 404 shares in the last quarter. Finally, Gofen & Glossberg LLC IL increased its stake in Adobe Systems by 2.7% in the first quarter. Gofen & Glossberg LLC IL now owns 25,943 shares of the software company’s stock valued at $3,376,000 after buying an additional 673 shares in the last quarter. 87.64% of the stock is owned by hedge funds and other institutional investors.
Adobe Systems Incorporated (NASDAQ:ADBE) traded down 0.18% on Friday, hitting $147.97. 1,696,938 shares of the company traded hands. The stock has a market cap of $73.01 billion, a PE ratio of 51.54 and a beta of 1.00. Adobe Systems Incorporated has a 12 month low of $97.87 and a 12 month high of $151.99. The stock’s 50-day moving average is $146.39 and its 200 day moving average is $134.11.
Adobe Systems (NASDAQ:ADBE) last released its 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. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. Adobe Systems’s revenue was up 26.7% compared to the same quarter last year. Equities research analysts expect that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.
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A number of brokerages recently commented on ADBE. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Vetr downgraded shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price objective for the company. in a research note on Thursday, May 25th. Barclays PLC boosted their price objective on shares of Adobe Systems from $155.00 to $161.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Stifel Nicolaus boosted their price objective on shares of Adobe Systems from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. Finally, Piper Jaffray Companies boosted their price objective on shares of Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $154.20.
In other Adobe Systems news, Director John E. Warnock sold 32,600 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares in the company, valued at $2,317,798.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Lewnes sold 2,233 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $139.29, for a total transaction of $311,034.57. Following the sale, the executive vice president now owns 61,944 shares of the company’s stock, valued at $8,628,179.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,239 shares of company stock valued at $14,877,475. 0.38% of the stock is owned by insiders.
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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