Tradewinds Capital Management LLC held its position in Adobe Systems Inc. (NASDAQ:ADBE) during the second quarter, Holdings Channel reports. The fund owned 9,600 shares of the software company’s stock at the end of the second quarter. Tradewinds Capital Management LLC’s holdings in Adobe Systems were worth $920,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AXA increased its stake in shares of Adobe Systems by 7.8% in the first quarter. AXA now owns 165,748 shares of the software company’s stock valued at $15,547,000 after buying an additional 12,000 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Adobe Systems by 1.5% in the first quarter. Pictet Asset Management Ltd. now owns 265,541 shares of the software company’s stock valued at $22,611,000 after buying an additional 3,900 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Adobe Systems during the first quarter valued at approximately $6,012,000. Capital Growth Management LP purchased a new stake in shares of Adobe Systems during the first quarter valued at approximately $8,911,000. Finally, UBS Group AG increased its stake in shares of Adobe Systems by 212.2% in the first quarter. UBS Group AG now owns 2,337,570 shares of the software company’s stock valued at $219,264,000 after buying an additional 1,588,934 shares in the last quarter. 87.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Adobe Systems Inc. (NASDAQ:ADBE) traded down 0.39% on Monday, hitting $107.42. 693,746 shares of the company traded hands. Adobe Systems Inc. has a 1-year low of $71.27 and a 1-year high of $110.13. The stock has a market capitalization of $53.41 billion, a price-to-earnings ratio of 54.81 and a beta of 1.27. The firm’s 50 day moving average price is $104.83 and its 200-day moving average price is $98.82.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company earned $1.46 billion during the quarter. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, equities research analysts expect that Adobe Systems Inc. will post $2.97 earnings per share for the current year.
Several analysts have recently commented on the stock. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $105.68 target price for the company. in a report on Monday, October 10th. RBC Capital Markets reiterated an “outperform” rating and issued a $116.00 target price (up previously from $115.00) on shares of Adobe Systems in a report on Thursday, September 22nd. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Adobe Systems in a report on Friday, September 23rd. Argus raised their price objective on shares of Adobe Systems from $110.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Finally, Dougherty & Co restated a “buy” rating and set a $122.00 price objective on shares of Adobe Systems in a report on Friday, September 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and an average target price of $111.88.
In related news, EVP Ann Lewnes sold 4,000 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $98.40, for a total value of $393,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael A. Dillon sold 13,331 shares of Adobe Systems stock in a transaction on Monday, October 10th. The stock was sold at an average price of $109.64, for a total value of $1,461,610.84. Following the sale, the executive vice president now owns 30,993 shares of the company’s stock, valued at $3,398,072.52. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.
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.
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