Assenagon Asset Management S.A. Purchases New Stake in Adobe Systems Incorporated (NASDAQ:ADBE)

Assenagon Asset Management S.A. bought a new stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 147,470 shares of the software company’s stock, valued at approximately $20,858,000. Adobe Systems accounts for approximately 0.5% of Assenagon Asset Management S.A.’s portfolio, making the stock its 9th largest position.

Several other large investors also recently modified their holdings of ADBE. Aperio Group LLC boosted its stake in shares of Adobe Systems by 11.7% in the second quarter. Aperio Group LLC now owns 247,814 shares of the software company’s stock valued at $35,051,000 after buying an additional 26,030 shares during the period. Main Street Research LLC boosted its stake in shares of Adobe Systems by 7.1% in the second quarter. Main Street Research LLC now owns 2,723 shares of the software company’s stock valued at $385,000 after buying an additional 180 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Adobe Systems by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 30,700 shares of the software company’s stock valued at $4,342,000 after buying an additional 200 shares during the period. Hudson Valley Investment Advisors Inc. ADV boosted its stake in shares of Adobe Systems by 5.3% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 29,668 shares of the software company’s stock valued at $4,196,000 after buying an additional 1,501 shares during the period. Finally, CWM LLC boosted its stake in shares of Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded down 0.18% during mid-day trading on Friday, reaching $147.97. The company’s stock had a trading volume of 1,699,265 shares. The firm has a market cap of $73.01 billion, a price-to-earnings 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 company’s 50-day moving average is $146.59 and its 200 day moving average is $134.36.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.95 by $0.07. The firm had revenue of $1.77 billion during 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%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, equities analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current year.

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Several equities research analysts recently issued reports on the company. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Royal Bank Of Canada reiterated a “buy” rating and issued a $157.00 price target on shares of Adobe Systems in a research note on Monday, July 31st. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 price target for the company in a research note on Tuesday, July 18th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Adobe Systems in a research note on Monday, June 26th. Finally, KeyCorp reiterated a “buy” rating on shares of Adobe Systems in a research note on Sunday, June 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $154.20.

In other news, CMO Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total transaction of $286,466.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John E. Warnock sold 32,600 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 16,088 shares of the company’s stock, valued at $2,317,798.16. 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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