Adobe Systems Incorporated (NASDAQ:ADBE) Stake Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 789,522 shares of the software company’s stock after selling 16,696 shares during the period. New York State Teachers Retirement System’s holdings in Adobe Systems were worth $102,740,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its stake in shares of 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 last quarter. Trust Co raised its stake in shares of Adobe Systems by 0.6% in the fourth quarter. Trust Co now owns 2,677 shares of the software company’s stock worth $275,000 after buying an additional 15 shares during the last quarter. Alpha Windward LLC raised its stake in shares of 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 last quarter. First National Bank of Hutchinson raised its stake in shares of Adobe Systems by 0.5% in the first quarter. First National Bank of Hutchinson now owns 5,973 shares of the software company’s stock worth $777,000 after buying an additional 28 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its stake in shares of Adobe Systems by 1.0% in the fourth quarter. Perigon Wealth Management LLC now owns 2,959 shares of the software company’s stock worth $355,000 after buying an additional 29 shares during the last quarter. Institutional investors 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, hitting $147.97. The company had a trading volume of 1,699,265 shares. The firm has a market capitalization of $73.01 billion, a P/E 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 firm has a 50-day moving average price of $146.59 and a 200 day moving average price of $134.36.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, equities research analysts forecast that Adobe Systems Incorporated will post $4.06 earnings per share for the current fiscal year.

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A number of equities research analysts have recently weighed in 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 restated a “buy” rating and set a $157.00 price target on shares of Adobe Systems in a research note on Monday, July 31st. Pacific Crest boosted their price target on Adobe Systems from $142.00 to $174.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Pivotal Research restated a “sell” rating and set a $114.00 price target (up previously from $112.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Finally, Deutsche Bank AG boosted their price target on Adobe Systems from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. One investment 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 assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $154.20.

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

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

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