Adobe Systems Incorporated (ADBE) Stake Decreased by Renaissance Technologies LLC

It increased, as 3 investors sold Voxeljet AG (ADR) shares while 5 reduced holdings. Capital One National Association bought a new stake in shares of Adobe Systems in the 1st quarter worth about $296,000.

Several hedge funds and other institutional investors have recently bought and sold shares of ADBE. Finally, Israel Discount Bank of NY purchased a new position in shares of Adobe Systems during the first quarter valued at $189,000.

Analysts had expected the company to earn $1.01 per share, according figures compiled by Thomson Reuters.

Adobe Systems Incorporated is a software company. In the last quarter, insiders sold 101,959 shares of company stock valued at $14,870,874. Clean Yield Group boosted its position in Adobe Systems by 32.9% in the third quarter. Waldron LP lifted its holdings in shares of Adobe Systems by 96.9% in the 1st quarter. Ameriprise Financial Inc. increased its stake in shares of Adobe Systems by 7.0% during the first quarter. Shares for $7.50M were sold by GESCHKE CHARLES M. LAMKIN BRYAN sold $2.61M worth of stock. On Thursday, January 5 the stock rating was initiated by BMO Capital Markets with “Outperform”.

Adobe Systems Incorporated (ADBE) formed wedge up with $166.06 target or 6.00% above today’s $156.66 share price. The brokerage now has a $175.00 price objective on the software company’s stock. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 42.29% since September 19, 2016 and is uptrending. For the quarter ending Nov-17, 26 analysts have a mean sales target of 1,944.77 million whilst for the year ending Nov-17, 29 analysts have a mean target of 7,215.79 million. The firm’s 50-day moving average price is $114.47 and its 200 day moving average price is $107.23. ( ADBE ) revealed earnings for its third quarter that advanced compared to the same period a year ago. The software company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.07. The business earned $1.61 billion during the quarter. During the same period in the prior year, the company posted $0.62 earnings per share. Adobe Systems has a 52 week low of $98.00 and a 52 week high of $157.89.

ADBE has been the topic of a number of research reports. Vetr lowered Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 target price on the a research note on Thursday, May 25th. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, September 21 report. Finally, BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Credit Suisse maintained the shares of ADBE in report on Wednesday, September 21 with “Neutral” rating. The company now has a consensus rating of “Buy” and an average price target of $154.41. Chase Investment Counsel Corp sold 5,950 shares as Adobe Sys Inc (ADBE)’s stock rose 14.01%. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The stock was sold at an average price of $144.07, for a total transaction of $4,696,682.00. The disclosure for this sale can be found here. Following the sale, the director now owns 16,088 shares of the company’s stock, valued at $2,317,798.16.

The stock decreased 2.70% or $0.52 on September 18, reaching $18.73. Adobe Systems also saw unusually large options trading activity on Monday. The Firm offers services and products used by professionals, marketers, knowledge workers, application developers, enterprises and clients for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences. Hedge funds and other institutional investors own 87.40% of the company’s stock.

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