Cypress Capital Management LLC WY Invests $142,000 in Adobe Systems Inc. (ADBE)

Cypress Capital Management LLC WY purchased a new position in shares of Adobe Systems Inc. (NASDAQ:ADBE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,480 shares of the software company’s stock, valued at approximately $142,000.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Adobe Systems by 46.2% in the first quarter. Wellington Management Group LLP now owns 5,463,118 shares of the software company’s stock valued at $512,441,000 after buying an additional 1,726,306 shares during the period. Geode Capital Management LLC raised its position in shares of Adobe Systems by 3.6% in the first quarter. Geode Capital Management LLC now owns 4,111,067 shares of the software company’s stock valued at $384,850,000 after buying an additional 140,952 shares during the period. UBS Group AG raised its position 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 during the period. Suvretta Capital Management LLC raised its position in shares of Adobe Systems by 88.6% in the first quarter. Suvretta Capital Management LLC now owns 1,857,595 shares of the software company’s stock valued at $174,242,000 after buying an additional 872,395 shares during the period. Finally, 1832 Asset Management L.P. raised its position in shares of Adobe Systems by 3.2% in the first quarter. 1832 Asset Management L.P. now owns 998,800 shares of the software company’s stock valued at $153,260,000 after buying an additional 30,700 shares during the period. Institutional investors own 87.74% of the company’s stock.

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

Adobe Systems Inc. (NASDAQ:ADBE) traded down 0.32% during midday trading on Monday, reaching $107.49. 1,136,503 shares of the company’s stock were exchanged. Adobe Systems Inc. has a 52 week low of $71.27 and a 52 week high of $110.13. The firm has a market capitalization of $53.45 billion, a price-to-earnings ratio of 54.84 and a beta of 1.27. The firm’s 50 day moving average is $104.98 and its 200 day moving average is $98.99.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. The company earned $1.46 billion during the quarter. During the same period in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was up 20.2% compared to the same quarter last year. On average, equities analysts anticipate that Adobe Systems Inc. will post $2.97 earnings per share for the current year.

Several research analysts have commented on the stock. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $105.00 price objective (up from $100.00) on shares of Adobe Systems in a report on Wednesday, June 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $104.00 price objective on shares of Adobe Systems in a report on Wednesday, June 22nd. Piper Jaffray Cos. assumed coverage on shares of Adobe Systems in a report on Monday, July 25th. They issued an “overweight” rating and a $125.00 price objective for the company. Vetr upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $99.66 price objective for the company in a report on Wednesday, June 22nd. Finally, Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Adobe Systems currently has an average rating of “Buy” and an average price target of $111.88.

In other news, Chairman John E. Warnock sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $98.51, for a total transaction of $197,020.00. Following the completion of the transaction, the chairman now directly owns 16,088 shares of the company’s stock, valued at approximately $1,584,828.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael A. Dillon sold 13,331 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 company 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.

5 Day Chart for NASDAQ:ADBE

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Systems Inc. (NASDAQ:ADBE).

Receive News & Ratings for Adobe Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Michael Jordan Gains Ground on Getting His Name Back
Michael Jordan Gains Ground on Getting His Name Back
McDonald’s Keeping As Much As 25% in Hong Kong and China Stores
McDonald’s Keeping As Much As 25% in Hong Kong and China Stores
President Obama Take Steps to Block Chip Maker Acquisition by Chinese Company
President Obama Take Steps to Block Chip Maker Acquisition by Chinese Company
GoPro Planning to Cut 200 Jobs
GoPro Planning to Cut 200 Jobs
Early Data from Cyber Monday Shows Sales Increasing Over 9%
Early Data from Cyber Monday Shows Sales Increasing Over 9%
Retailers Anticipating Strong Support for Small Business Saturday
Retailers Anticipating Strong Support for Small Business Saturday


 
© 2006-2016 Ticker Report. Google+.