Adobe Systems Incorporated (NASDAQ:ADBE) Stake Held by Perkins Coie Trust Co

Perkins Coie Trust Co continued to hold its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 800 shares of the software company’s stock at the end of the second quarter. Perkins Coie Trust Co’s holdings in Adobe Systems were worth $113,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clean Yield Group acquired a new position in shares of Adobe Systems during the first quarter valued at about $100,000. Washington Trust Bank raised 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 acquired a new position in shares of Adobe Systems during the first quarter valued at about $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares in the last quarter. Finally, WFG Advisors LP raised its position in shares of Adobe Systems by 10.1% in the first quarter. WFG Advisors LP now owns 1,263 shares of the software company’s stock valued at $164,000 after buying an additional 116 shares in the last quarter. 88.05% of the stock is currently owned by institutional investors.

Adobe Systems Incorporated (ADBE) traded down 1.15% during midday trading on Thursday, hitting $146.64. The company had a trading volume of 423,206 shares. The stock has a market cap of $72.35 billion, a PE ratio of 51.08 and a beta of 1.00. Adobe Systems Incorporated has a 52-week low of $97.87 and a 52-week high of $150.40. The stock’s 50-day moving average price is $145.64 and its 200-day moving average price is $132.74.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. On average, equities research analysts expect that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.

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Several brokerages recently issued reports on ADBE. Bank of America Corporation reaffirmed a “buy” rating and set a $184.00 target price (up from $160.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Guggenheim began coverage on Adobe Systems in a research report on Wednesday, April 12th. They set a “buy” rating and a $155.00 target price on the stock. Pivotal Research lowered Adobe Systems from a “hold” rating to a “sell” rating and upped their target price for the company from $109.00 to $112.00 in a research report on Monday, June 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $137.00 target price on shares of Adobe Systems in a research report on Friday, June 16th. Finally, Barclays PLC upped their target price on Adobe Systems from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Adobe Systems presently has a consensus rating of “Buy” and a consensus price target of $153.20.

In related news, EVP Ann Lewnes sold 2,233 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total transaction of $311,034.57. Following the completion of the sale, the executive vice president now directly owns 61,944 shares in the company, valued at $8,628,179.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Donna Morris sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $145.00, for a total transaction of $725,000.00. The disclosure for this sale can be found here. Insiders have sold 102,239 shares of company stock valued at $14,877,475 over the last 90 days. 0.38% of the stock is currently owned by 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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Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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