Adobe Systems Incorporated (NASDAQ:ADBE) Position Maintained by State Farm Mutual Automobile Insurance Co.

State Farm Mutual Automobile Insurance Co. maintained its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,135 shares of the software company’s stock at the end of the first quarter. State Farm Mutual Automobile Insurance Co.’s holdings in Adobe Systems were worth $43,741,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Stratos Wealth Partners LTD. raised its position in Adobe Systems by 40.3% in the first quarter. Stratos Wealth Partners LTD. now owns 6,940 shares of the software company’s stock valued at $903,000 after buying an additional 1,992 shares in the last quarter. Wellington Management Group LLP raised its position in Adobe Systems by 40.3% in the first quarter. Wellington Management Group LLP now owns 4,009,357 shares of the software company’s stock valued at $521,737,000 after buying an additional 1,152,281 shares in the last quarter. Principal Financial Group Inc. raised its position in Adobe Systems by 1.3% in the first quarter. Principal Financial Group Inc. now owns 721,395 shares of the software company’s stock valued at $93,875,000 after buying an additional 9,501 shares in the last quarter. Gofen & Glossberg LLC IL raised its position in Adobe Systems by 2.7% in the first quarter. Gofen & Glossberg LLC IL now owns 25,943 shares of the software company’s stock valued at $3,376,000 after buying an additional 673 shares in the last quarter. Finally, Credit Agricole S A raised its position in Adobe Systems by 3.7% in the first quarter. Credit Agricole S A now owns 165,886 shares of the software company’s stock valued at $21,586,000 after buying an additional 5,900 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Systems Incorporated (NASDAQ ADBE) opened at 149.94 on Friday. The company has a market cap of $73.98 billion, a P/E ratio of 52.23 and a beta of 1.00. The company has a 50-day moving average of $142.67 and a 200 day moving average of $128.85. Adobe Systems Incorporated has a 52 week low of $95.42 and a 52 week high of $150.10.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, equities analysts forecast that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.

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Several research analysts have recently weighed in on ADBE shares. Barclays PLC started coverage on shares of Adobe Systems in a research note on Tuesday, May 2nd. They set an “overweight” rating and a $155.00 price objective on the stock. Guggenheim started coverage on shares of Adobe Systems in a research note on Wednesday, April 12th. They set a “buy” rating and a $155.00 price objective on the stock. Credit Suisse Group upgraded shares of Adobe Systems from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $125.00 to $150.00 in a research note on Friday, March 24th. BTIG Research upgraded shares of Adobe Systems from a “neutral” rating to a “buy” rating and set a $151.00 price objective on the stock in a research note on Monday, March 27th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $160.00 price target (up previously from $140.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have given a buy rating to the stock. Adobe Systems currently has an average rating of “Buy” and an average target price of $153.20.

In other news, EVP Donna Morris sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $145.00, for a total value of $725,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles M. Geschke sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $145.16, for a total transaction of $3,629,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 80,019 shares of company stock valued at $11,527,134. Corporate insiders own 0.38% of the company’s stock.

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.

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

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