Trade Report: Today, Neuberger Berman Group LLC decides to keep it stake in Adobe Systems Inc. (ADBE) to the level of $100,856,000

Today, Neuberger Berman Group LLC decides to keep it stake in Adobe Systems Inc. (ADBE) to the level of $100,856,000

Neuberger Berman Group LLC decreased its position in Adobe Systems Inc. (NASDAQ:ADBE) by 13.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 929,206 shares of the software company’s stock after selling 141,492 shares during the period. Neuberger Berman Group LLC owned about 0.19% of Adobe Systems worth $100,856,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Gulf International Bank UK Ltd boosted its stake in shares of Adobe Systems by 0.5% in the second quarter. Gulf International Bank UK Ltd now owns 149,133 shares of the software company’s stock worth $14,285,000 after buying an additional 800 shares in the last quarter. Central Bank & Trust Co. boosted its stake in shares of Adobe Systems by 9.9% in the second quarter. Central Bank & Trust Co. now owns 62,476 shares of the software company’s stock worth $5,984,000 after buying an additional 5,628 shares in the last quarter. Jacobs & Co. CA boosted its stake in shares of Adobe Systems by 10.5% in the second quarter. Jacobs & Co. CA now owns 43,964 shares of the software company’s stock worth $4,211,000 after buying an additional 4,165 shares in the last quarter. Alpha Windward LLC boosted its stake in shares of Adobe Systems by 1,019.3% in the second quarter. Alpha Windward LLC now owns 1,567 shares of the software company’s stock worth $150,000 after buying an additional 1,427 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in shares of Adobe Systems by 1.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 431,544 shares of the software company’s stock worth $41,338,000 after buying an additional 7,456 shares in the last quarter. 88.01% of the stock is currently owned by institutional investors.

Shares of Adobe Systems Inc. (NASDAQ:ADBE) opened at 105.02 on Friday. The company has a 50-day moving average of $106.90 and a 200-day moving average of $101.34. The firm has a market capitalization of $52.22 billion, a PE ratio of 53.58 and a beta of 1.14. Adobe Systems Inc. has a 52 week low of $71.27 and a 52 week high of $111.09.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The firm earned $1.46 billion during the quarter. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, equities analysts forecast that Adobe Systems Inc. will post $2.98 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on ADBE shares. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $105.68 price target for the company. in a research report on Monday, October 10th. Deutsche Bank AG restated a “buy” rating and issued a $125.00 price objective on shares of Adobe Systems in a report on Thursday, November 3rd. Stephens began coverage on shares of Adobe Systems in a report on Wednesday, August 10th. They issued an “overweight” rating and a $125.00 price objective for the company. Cowen and Company restated an “outperform” rating and issued a $120.00 price objective on shares of Adobe Systems in a report on Tuesday, September 27th. Finally, BTIG Research began coverage on shares of Adobe Systems in a report on Wednesday, November 16th. They issued a “neutral” rating for the company. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Adobe Systems presently has a consensus rating of “Buy” and an average price target of $112.87.

In other Adobe Systems news, EVP Michael A. Dillon sold 13,331 shares of Adobe Systems stock in a transaction on Monday, October 10th. The shares were sold at an average price of $109.64, for a total value of $1,461,610.84. Following the completion of the transaction, the executive vice president now owns 30,993 shares of the company’s stock, valued at $3,398,072.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael A. Dillon sold 5,450 shares of Adobe Systems stock in a transaction on Monday, August 29th. The stock was sold at an average price of $101.85, for a total transaction of $555,082.50. Following the completion of the transaction, the executive vice president now directly owns 44,324 shares of the company’s stock, valued at approximately $4,514,399.40. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

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