Aviva PLC Grows Stake in Adobe Systems Incorporated (ADBE)

Aviva PLC grew its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 312,394 shares of the software company’s stock after buying an additional 1,250 shares during the period. Aviva PLC owned approximately 0.06% of Adobe Systems worth $44,194,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ADBE. Waldron LP grew its stake in shares of Adobe Systems by 96.9% in the first quarter. Waldron LP now owns 5,487 shares of the software company’s stock worth $689,000 after acquiring an additional 2,701 shares during the period. Acadian Asset Management LLC grew its position in Adobe Systems by 91.0% during the first quarter. Acadian Asset Management LLC now owns 4,635 shares of the software company’s stock valued at $603,000 after buying an additional 2,208 shares during the period. Canada Pension Plan Investment Board grew its position in Adobe Systems by 52.6% during the first quarter. Canada Pension Plan Investment Board now owns 521,650 shares of the software company’s stock valued at $67,882,000 after buying an additional 179,702 shares during the period. Arcadia Investment Management Corp MI grew its position in Adobe Systems by 3.4% during the first quarter. Arcadia Investment Management Corp MI now owns 32,305 shares of the software company’s stock valued at $4,204,000 after buying an additional 1,074 shares during the period. Finally, Spectrum Asset Management Inc. NB CA bought a new stake in Adobe Systems during the first quarter valued at approximately $516,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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In related news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total value of $281,232.00. Following the sale, the executive vice president now owns 59,991 shares of the company’s stock, valued at $8,638,704. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donna Morris sold 5,000 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $145.00, for a total transaction of $725,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 101,959 shares of company stock worth $14,870,874. 0.38% of the stock is currently owned by insiders.

Several brokerages recently issued reports on ADBE. Piper Jaffray Companies restated a “buy” rating and set a $180.00 target price on shares of Adobe Systems in a research report on Tuesday, September 12th. Barclays PLC reiterated a “buy” rating and issued a $167.00 price target on shares of Adobe Systems in a research report on Friday. Jefferies Group LLC reiterated a “buy” rating and issued a $175.00 price target on shares of Adobe Systems in a research report on Tuesday, September 12th. Zacks Investment Research lowered shares of Adobe Systems from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Adobe Systems in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $154.08.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at 154.49 on Friday. The firm’s 50 day moving average is $151.06 and its 200 day moving average is $139.34. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $157.89. The stock has a market capitalization of $76.23 billion, a price-to-earnings ratio of 53.81 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The company’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Equities analysts expect that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.

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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