Adobe Systems Incorporated (NASDAQ:ADBE) EVP Sells 5000 Shares of Stock

Xavier Trudeau
Juillet 9, 2017

Signature Estate & Investment Advisors LLC acquired a new position in Adobe Systems during the first quarter worth $113,000. Holland Capital Management LLC's holdings in Adobe Systems were worth $93,397,000 as of its most recent filing with the SEC. It turned negative, as 57 investors sold ADBE shares while 287 reduced holdings. Clean Yield Group purchased a new stake in Adobe Systems during the first quarter valued at $100,000. Qs Invsts Ltd holds 0.15% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 179,371 shares. BTIM Corp. now owns 6,698 shares of the software company's stock worth $872,000 after buying an additional 162 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Adobe Systems by 7.0% in the first quarter. Aristotle Capital Management LLC now owns 3,080,044 shares of the software company's stock valued at $317,091,000 after buying an additional 84,555 shares during the period. UBS Asset Management Americas Inc. now owns 3,372,838 shares of the software company's stock worth $438,907,000 after buying an additional 1,619,111 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Adobe Systems by 2.7% in the first quarter. Following the completion of the transaction, the director now directly owns 8,801 shares of the company's stock, valued at approximately $1,264,791.71. The institutional investor owned 371,649 shares of the software company's stock after buying an additional 5,627 shares during the period. Alpha Windward Ltd Liability Company holds 0.11% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 1,640 shares. UTX's profit will be $1.40 billion for 17.40 P/E if the $1.76 EPS becomes a reality. The stock has a 50 day moving average of $140.44 and a 200 day moving average of $124.84. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has "Strong-Buy" rating given on Wednesday, September 2 by Vetr. Adobe Systems also was the target of unusually large options trading activity on Thursday. Investors purchased 13,490 put options on the company. This represents an increase of approximately 248% compared to the average daily volume of 3,871 put options.

Among 37 analysts covering Adobe Systems (NASDAQ:ADBE), 30 have Buy rating, 1 Sell and 6 Hold. The software company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. They expect $1.76 earnings per share, down 3.30% or $0.06 from last year's $1.82 per share. Adobe Systems's quarterly revenue was up 26.7% compared to the same quarter previous year. Country Trust Bank holds 0% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 400 shares.

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A number of equities research analysts have recently commented on ADBE shares. Oppenheimer Holdings, Inc. reissued a "market perform" rating on shares of Adobe Systems in a research note on Monday, June 26th. Piper Jaffray Companies restated an "overweight" rating and issued a $160.00 target price on shares of Adobe Systems in a report on Wednesday, March 22nd. Wunderlich upgraded Adobe Systems from a "hold" rating to a "buy" rating and lifted their target price for the company from $115.00 to $145.00 in a report on Friday, March 17th. Finally, Zacks Investment Research upgraded Adobe Systems from a "hold" rating to a "buy" rating and set a $161.00 price objective for the company in a report on Friday, June 23rd. Canaccord Genuity restated a "buy" rating and issued a $165.00 target price (up from $145.00) on shares of Adobe Systems in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the stock. The stock has a consensus rating of "Buy" and an average target price of $154.01. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has "Sell" rating given on Wednesday, June 21 by Pivotal Research. 20,000 Adobe Systems Incorporated (NASDAQ:ADBE) shares with value of $2.61M were sold by LAMKIN BRYAN.

Pennsylvania Trust Co, which manages about $1.26B US Long portfolio, upped its stake in Raytheon Co (NYSE:RTN) by 9,139 shares to 54,950 shares, valued at $7.80M in 2016Q4, according to the filing. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Rosensweig sold 11,000 shares of the business's stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $135.86, for a total transaction of $303,375.38. Following the transaction, the director now directly owns 16,088 shares in the company, valued at $2,317,798.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,299 shares of company stock worth $7,907,103. Bridgecreek Invest Mgmt Llc stated it has 1.52% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE).

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