Fic Capital Inc. reduced its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 0.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,481 shares of the software company’s stock after selling 619 shares during the period. Adobe Systems comprises approximately 7.6% of Fic Capital Inc.’s holdings, making the stock its largest position. Fic Capital Inc.’s holdings in Adobe Systems were worth $17,240,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised 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 valued at $438,907,000 after buying an additional 1,619,111 shares during the last quarter. Egerton Capital UK LLP bought a new stake in shares of Adobe Systems during the first quarter valued at approximately $209,666,000. Pioneer Investment Management Inc. bought a new stake in shares of Adobe Systems during the first quarter valued at approximately $201,774,000. Wellington Management Group LLP raised 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 valued at $521,737,000 after buying an additional 1,152,281 shares during the last quarter. Finally, Swedbank bought a new stake in shares of Adobe Systems during the first quarter valued at approximately $129,983,000. 87.64% of the stock is currently owned by institutional investors.
Adobe Systems Incorporated (ADBE) traded down 0.18% during trading on Friday, hitting $147.97. The stock had a trading volume of 1,699,265 shares. The firm has a market cap of $73.01 billion, a PE ratio of 51.54 and a beta of 1.00. The company’s 50-day moving average is $146.59 and its 200 day moving average is $134.36. Adobe Systems Incorporated has a 52 week low of $97.87 and a 52 week high of $151.99.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 return on equity of 20.06% and a net margin of 22.11%. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. Equities analysts expect that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.
Several equities research analysts have commented on ADBE shares. Barclays PLC started coverage on shares of Adobe Systems in a research report on Tuesday, May 2nd. They set an “overweight” rating and a $155.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of Adobe Systems from $135.00 to $157.00 and gave the stock an “outperform” rating in a research report on Thursday, May 25th. Vetr lowered shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 target price on the stock. in a research report on Thursday, May 25th. BMO Capital Markets reiterated an “outperform” rating and issued a $160.00 price objective (up from $140.00) on shares of Adobe Systems in a research report on Friday, June 9th. Finally, Pivotal Research lowered shares of Adobe Systems from a “hold” rating to a “sell” rating and boosted their price objective for the stock from $109.00 to $112.00 in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $154.20.
In other Adobe Systems news, Director Daniel Rosensweig sold 11,000 shares of Adobe Systems stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $143.71, for a total value of $1,580,810.00. Following the transaction, the director now directly owns 8,801 shares of the company’s stock, valued at approximately $1,264,791.71. The sale was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $139.29, for a total value of $311,034.57. Following the sale, the executive vice president now owns 61,944 shares in the company, valued at $8,628,179.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,239 shares of company stock worth $14,877,475. Company 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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