Arrowstreet Capital Limited Partnership raised its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 45.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,833,692 shares of the software company’s stock after purchasing an additional 1,190,108 shares during the quarter. Adobe Systems makes up 1.6% of Arrowstreet Capital Limited Partnership’s holdings, making the stock its 6th biggest position. Arrowstreet Capital Limited Partnership owned about 0.78% of Adobe Systems worth $542,237,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC acquired a new stake in shares of Adobe Systems during the second quarter worth $100,000. CWM LLC lifted its holdings in shares of Adobe Systems by 11.8% during the second quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after buying an additional 79 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in shares of Adobe Systems by 86.2% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after buying an additional 500 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Adobe Systems during the second quarter worth $141,000. Finally, Acrospire Investment Management LLC lifted its holdings in shares of Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after buying an additional 500 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 EPS.
In other news, EVP Abhay Parasnis sold 12,500 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $149.38, for a total transaction of $1,867,250.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Ann Lewnes sold 1,953 shares of the stock in a transaction dated Wednesday, August 9th. The shares were 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. Insiders have sold a total of 28,359 shares of company stock worth $4,255,181 over the last quarter. Corporate insiders own 0.38% of the company’s stock.
ADBE has been the subject of a number of research reports. Zacks Investment Research downgraded Adobe Systems from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Vetr downgraded Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price for the company. in a report on Thursday, August 31st. Morgan Stanley reissued an “equal weight” rating and set a $137.00 target price on shares of Adobe Systems in a report on Friday, June 16th. Robert W. Baird set a $160.00 target price on Adobe Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $158.16.
Adobe Systems 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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