Norinchukin Bank The Boosts Stake in Adobe Systems Incorporated (ADBE)

Norinchukin Bank The boosted its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 6.8% during the first quarter, Holdings Channel reports. The institutional investor owned 32,210 shares of the software company’s stock after buying an additional 2,047 shares during the period. Norinchukin Bank The’s holdings in Adobe Systems were worth $4,191,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADBE. Clean Yield Group purchased a new position in shares of Adobe Systems during the first quarter valued at about $100,000. Washington Trust Bank increased its position in shares of Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock valued at $109,000 after buying an additional 102 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Adobe Systems during the first quarter valued at about $113,000. Sowell Financial Services LLC purchased a new position in shares of Adobe Systems during the fourth quarter valued at about $148,000. Finally, Israel Discount Bank of New York GFN purchased a new position in shares of Adobe Systems during the fourth quarter valued at about $152,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

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

Adobe Systems Incorporated (NASDAQ ADBE) opened at 138.25 on Thursday. Adobe Systems Incorporated has a one year low of $90.35 and a one year high of $144.34. The company’s 50-day moving average is $138.12 and its 200-day moving average is $121.84. The firm has a market cap of $68.39 billion, a PE ratio of 52.79 and a beta of 0.98.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 16th. The software company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.07. Adobe Systems had a net margin of 21.34% and a return on equity of 18.69%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business earned $0.66 EPS. The company’s revenue was up 21.6% compared to the same quarter last year. On average, analysts forecast that Adobe Systems Incorporated will post $3.95 earnings per share for the current fiscal year.

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ADBE has been the subject of several analyst reports. Canaccord Genuity lifted their price target on shares of Adobe Systems to $145.00 in a report on Friday, March 17th. Cowen and Company set a $140.00 price target on shares of Adobe Systems and gave the company a “buy” rating in a report on Saturday, March 11th. Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $125.31 price target for the company in a report on Tuesday, February 28th. Citigroup Inc. lifted their price target on shares of Adobe Systems to $141.00 and gave the company a “buy” rating in a report on Friday, March 17th. Finally, Wunderlich raised shares of Adobe Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $115.00 to $145.00 in a report on Friday, March 17th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $139.54.

In other Adobe Systems news, EVP Ann Lewnes sold 2,233 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $135.86, for a total transaction of $303,375.38. Following the completion of the transaction, the executive vice president now owns 64,177 shares in the company, valued at approximately $8,719,087.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles M. Geschke sold 59,550 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $125.95, for a total transaction of $7,500,322.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,249 shares of company stock valued at $10,979,024. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ADBE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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