Adobe Systems Incorporated (ADBE) Position Lifted by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co increased its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 182.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,740 shares of the software company’s stock after acquiring an additional 5,000 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Adobe Systems were worth $1,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Adobe Systems by 1,894.1% during the 1st quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after purchasing an additional 30,228,013 shares during the period. FMR LLC increased its holdings in shares of Adobe Systems by 4.9% during the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after purchasing an additional 1,651,762 shares during the period. Egerton Capital UK LLP bought a new position in shares of Adobe Systems during the 1st quarter worth about $209,666,000. Pioneer Investment Management Inc. bought a new position in shares of Adobe Systems during the 1st quarter worth about $201,774,000. Finally, Polen Capital Management LLC increased its holdings in shares of Adobe Systems by 31.5% during the 2nd quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after purchasing an additional 1,452,892 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Adobe Systems Incorporated (ADBE) Position Lifted by FUKOKU MUTUAL LIFE INSURANCE Co” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/10/adobe-systems-incorporated-adbe-position-lifted-by-fukoku-mutual-life-insurance-co.html.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at 151.50 on Tuesday. The company has a market capitalization of $74.68 billion, a P/E ratio of 47.63 and a beta of 0.99. The firm has a 50 day moving average of $151.72 and a 200-day moving average of $142.75. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $157.89.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. On average, analysts forecast that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.

In other news, Director Charles M. Geschke sold 25,000 shares of Adobe Systems stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $145.16, for a total value of $3,629,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total transaction of $281,232.00. Following the completion of the sale, the executive vice president now owns 59,991 shares of the company’s stock, valued at approximately $8,638,704. The disclosure for this sale can be found here. Insiders sold a total of 53,359 shares of company stock valued at $7,868,382 in the last quarter. 0.38% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on the stock. Cowen and Company restated an “outperform” rating and set a $165.00 price objective on shares of Adobe Systems in a report on Tuesday, October 3rd. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the stock a “buy” rating in a report on Friday. Royal Bank Of Canada restated a “buy” rating on shares of Adobe Systems in a report on Wednesday, September 20th. Canaccord Genuity restated a “buy” rating and set a $170.00 price objective (up previously from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Finally, Oppenheimer Holdings, Inc. restated a &#

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Adobe Systems by 1,894.1% during the 1st quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after purchasing an additional 30,228,013 shares during the period. FMR LLC increased its holdings in shares of Adobe Systems by 4.9% during the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after purchasing an additional 1,651,762 shares during the period. Egerton Capital UK LLP bought a new position in shares of Adobe Systems during the 1st quarter worth about $209,666,000. Pioneer Investment Management Inc. bought a new position in shares of Adobe Systems during the 1st quarter worth about $201,774,000. Finally, Polen Capital Management LLC increased its holdings in shares of Adobe Systems by 31.5% during the 2nd quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after purchasing an additional 1,452,892 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Adobe Systems Incorporated (ADBE) Position Lifted by FUKOKU MUTUAL LIFE INSURANCE Co” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/10/adobe-systems-incorporated-adbe-position-lifted-by-fukoku-mutual-life-insurance-co.html.

Adobe Systems Incorporated (NASDAQ:ADBE) opened at 151.50 on Tuesday. The company has a market capitalization of $74.68 billion, a P/E ratio of 47.63 and a beta of 0.99. The firm has a 50 day moving average of $151.72 and a 200-day moving average of $142.75. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $157.89.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. On average, analysts forecast that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.

In other news, Director Charles M. Geschke sold 25,000 shares of Adobe Systems stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $145.16, for a total value of $3,629,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total transaction of $281,232.00. Following the completion of the sale, the executive vice president now owns 59,991 shares of the company’s stock, valued at approximately $8,638,704. The disclosure for this sale can be found here. Insiders sold a total of 53,359 shares of company stock valued at $7,868,382 in the last quarter. 0.38% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on the stock. Cowen and Company restated an “outperform” rating and set a $165.00 price objective on shares of Adobe Systems in a report on Tuesday, October 3rd. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the stock a “buy” rating in a report on Friday. Royal Bank Of Canada restated a “buy” rating on shares of Adobe Systems in a report on Wednesday, September 20th. Canaccord Genuity restated a “buy” rating and set a $170.00 price objective (up previously from $165.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Adobe Systems in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $158.16.

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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