Adobe Systems Incorporated (ADBE) Shares Sold by Gamco Investors INC. ET AL
Gamco Investors INC. ET AL trimmed its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 26.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,957 shares of the software company’s stock after selling 6,992 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Adobe Systems were worth $2,681,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC bought a new position in Adobe Systems during the 2nd quarter valued at $100,000. CWM LLC boosted its stake in Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after acquiring an additional 79 shares during the last quarter. Clean Yield Group bought a new position in Adobe Systems during the 1st quarter valued at $100,000. Signature Estate & Investment Advisors LLC bought a new position in Adobe Systems during the 1st quarter valued at $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Adobe Systems by 86.2% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.
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A number of research firms have commented on ADBE. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective on the stock. in a research note on Thursday, August 31st. Robert W. Baird reiterated a “buy” rating and set a $160.00 price objective on shares of Adobe Systems in a research note on Friday. Jefferies Group LLC began coverage on shares of Adobe Systems in a research note on Thursday, August 24th. They set a “buy” rating and a $175.00 price objective on the stock. Bank of America Corporation increased their price objective on shares of Adobe Systems from $108.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, August 25th. Finally, BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Adobe Systems has an average rating of “Buy” and an average target price of $152.46.
In other Adobe Systems news, Director John E. Warnock sold 32,600 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,317,798.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.00, for a total value of $281,232.00. Following the sale, the executive vice president now directly owns 59,991 shares of the company’s stock, valued at $8,638,704. The disclosure for this sale can be found here. Insiders have sold a total of 102,239 shares of company stock valued at $14,877,475 over the last three months. Company insiders own 0.38% of the company’s stock.
Adobe Systems Incorporated (NASDAQ ADBE) opened at 155.06 on Tuesday. The firm has a market cap of $76.51 billion, a PE ratio of 54.01 and a beta of 1.00. The stock has a 50 day moving average of $149.22 and a 200 day moving average of $137.01. Adobe Systems Incorporated has a 52 week low of $97.87 and a 52 week high of $156.06.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. Analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current year.
Adobe Systems Company 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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