Rational Advisors LLC increased its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 153.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,449 shares of the software company’s stock after acquiring an additional 7,535 shares during the period. Adobe Systems comprises approximately 1.4% of Rational Advisors LLC’s portfolio, making the stock its 4th largest position. Rational Advisors LLC’s holdings in Adobe Systems were worth $3,035,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Adobe Systems during the second quarter worth about $107,000. Reilly Financial Advisors LLC boosted its holdings in shares of Adobe Systems by 85.2% during the first quarter. Reilly Financial Advisors LLC now owns 576 shares of the software company’s stock worth $124,000 after purchasing an additional 265 shares during the period. Exchange Capital Management Inc. purchased a new stake in shares of Adobe Systems during the first quarter worth about $125,000. Rainier Group Investment Advisory LLC purchased a new stake in shares of Adobe Systems during the first quarter worth about $130,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Adobe Systems during the first quarter worth about $132,000. Institutional investors own 86.51% of the company’s stock.

In other Adobe Systems news, EVP Abhay Parasnis sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $260.01, for a total transaction of $2,730,105.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Lewnes sold 2,945 shares of the firm’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $253.50, for a total transaction of $746,557.50. Following the transaction, the executive vice president now directly owns 67,377 shares of the company’s stock, valued at approximately $17,080,069.50. The disclosure for this sale can be found here. Insiders have sold 25,324 shares of company stock valued at $6,511,829 in the last ninety days. Insiders own 0.33% of the company’s stock.

A number of analysts have recently weighed in on ADBE shares. Robert W. Baird increased their target price on shares of Adobe Systems from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, May 22nd. Zacks Investment Research lowered shares of Adobe Systems from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. BidaskClub lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. JPMorgan Chase & Co. increased their target price on shares of Adobe Systems from $235.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, June 15th. Finally, Royal Bank of Canada increased their target price on shares of Adobe Systems to $268.00 and gave the stock an “outperform” rating in a report on Monday, June 11th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and a consensus price target of $241.76.

ADBE stock opened at $248.89 on Friday. Adobe Systems Incorporated has a 1 year low of $143.95 and a 1 year high of $263.83. The stock has a market capitalization of $124.23 billion, a P/E ratio of 69.33, a P/E/G ratio of 2.76 and a beta of 1.12. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.22.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, June 14th. The software company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.12. Adobe Systems had a net margin of 26.68% and a return on equity of 27.08%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm earned $1.02 earnings per share. Adobe Systems’s revenue was up 23.9% on a year-over-year basis. equities analysts anticipate that Adobe Systems Incorporated will post 5.61 earnings per share for the current fiscal year.

Adobe Systems declared that its Board of Directors has authorized a share buyback plan on Monday, May 21st that allows the company to buyback $8.00 billion in shares. This buyback authorization allows the software company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

About Adobe Systems

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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

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