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emfizz.com April 24, 2017


The Airain ltd Raises Position in Adobe Systems Incorporated (ADBE)

20 April 2017, 05:58 | Bernard Bryant

Airain ltd increased its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 13.0% during the third quarter, Holdings Channel reports. NA now owns 7,667 shares of the software company's stock worth $832,000 after buying an additional 24 shares during the last quarter. Sell-side analyst recommendations point to a short term price target of $127.21 on the company shares. Pivotal Research Downgrades Adobe Systems Incorporated (ADBE) to Hold with a price target of $104. Wunderlich upgraded Adobe Systems from a "hold" rating to a "buy" rating and raised their target price for the stock from $115.00 to $145.00 in a research note on Friday, March 17th. Cowen and Company restated an "outperform" rating and issued a $145.00 target price (up previously from $140.00) on shares of Adobe Systems in a report on Friday, March 17th. Finally, Pacific Crest reiterated an "overweight" rating on shares of Adobe Systems in a report on Saturday, January 7th. Analysts have a mean recommendation of 1.90 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The stock presently has an average rating of "Buy" and an average target price of $133.63.

Shares of Adobe Systems (NASDAQ:ADBE) traded up 0.32% during trading on Wednesday, hitting $130.22. The firm has a market capitalization of $63.84 billion, a PE ratio of 49.27 and a beta of 1.06. Adobe Systems has a 12-month low of $90.35 and a 12-month high of $131.33. Current price places the company's stock 19.3% away from its 200-day simple moving average, 5.48%, away from the 50-day average and also 0.75% away from 20-day average.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, December 15th. The software company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.87 by $0.07. Adobe Systems had a return on equity of 17.23% and a net margin of 19.96%. The firm earned $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm posted $0.62 earnings per share.

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In related news, EVP Ann Lewnes sold 2,233 shares of the company's stock in a transaction that occurred on Wednesday, March 22nd.

Praxair, Inc. (NYSE:PX) ended its day at $118.32 with the rising stream of 0.23% and its total traded volume was 1.5 million shares more than the average volume. Following the completion of the transaction, the director now directly owns 38,086 shares in the company, valued at $4,190,221.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Finally, Brown Advisory Inc. boosted its position in shares of Adobe Systems by 2.3% in the fourth quarter. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 408,358 shares of company stock worth $47,525,072.

Albeit keeping a close eye on stock technical is very important, Investors always show anxiousness about where the stock might be heading.

A number of other hedge funds have also recently added to or reduced their stakes in ADBE. Bank of The West raised its position in Adobe Systems by 0.8% in the second quarter. Sowell Financial Services LLC purchased a new stake in Adobe Systems during the fourth quarter valued at approximately $148,000. Janus Capital Management LLC now owns 14,281,223 shares of the software company's stock valued at $1,470,479,000 after buying an additional 550,041 shares during the last quarter. NA raised its position in Adobe Systems by 0.3% in the third quarter. TCI Wealth Advisors Inc. now owns 1,104 shares of the software company's stock valued at $120,000 after buying an additional 110 shares in the last quarter. Lone Pine Capital LLC now owns 5,027,599 shares of the software company's stock valued at $517,591,000 after buying an additional 409,622 shares during the last quarter.



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