Adobe Systems Incorporated (ADBE) : Firsthand Capital Management reduced its stake in Adobe Systems Incorporated by 66.67% during the most recent quarter end. The investment management company now holds a total of 15,000 shares of Adobe Systems Incorporated which is valued at $1.4 Million after selling 30,000 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on May 13, 2016.Adobe Systems Incorporated makes up approximately 1.44% of Firsthand Capital Management’s portfolio.
Other Hedge Funds, Including , Avalon Global Asset Management sold out all of its stake in ADBE during the most recent quarter. The investment firm sold 15,000 shares of ADBE which is valued $1.4 Million. Secor Capital Advisors Lp sold out all of its stake in ADBE during the most recent quarter. The investment firm sold 4,238 shares of ADBE which is valued $406,721.Bronfman E.l. Rothschild reduced its stake in ADBE by selling 85 shares or 11.55% in the most recent quarter. The Hedge Fund company now holds 651 shares of ADBE which is valued at $61,389. Adobe Systems Incorporated makes up approx 0.01% of Bronfman E.l. Rothschild’s portfolio.Nordea Investment Management Ab reduced its stake in ADBE by selling 7,851 shares or 15.39% in the most recent quarter. The Hedge Fund company now holds 43,168 shares of ADBE which is valued at $4.1 Million. Adobe Systems Incorporated makes up approx 0.01% of Nordea Investment Management Ab’s portfolio.
Adobe Systems Incorporated closed down -0.02 points or -0.02% at $99.61 with 19,55,802 shares getting traded on Wednesday. Post opening the session at $99.91, the shares hit an intraday low of $98.8001 and an intraday high of $99.99 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Adobe Systems Incorporated reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 17, 2016. Analyst had a consensus of $0.61. The company had revenue of $1383.30 million for the quarter, compared to analysts expectations of $1336.47 million. The company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Many Wall Street Analysts have commented on Adobe Systems Incorporated. Company shares were Resumed by Credit Suisse on Apr 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 105 from a previous price target of $85 .Company shares were Reiterated by FBR Capital on Apr 12, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 115 from a previous price target of $100 .Company shares were Reiterated by Dougherty & Company on Apr 4, 2016 to “Buy”, Firm has raised the Price Target to $ 122 from a previous price target of $116 .
Adobe Systems Incorporated (Adobe) is a software company. The Company offers products and services for professionals marketers application developers enterprises and consumers for creating managing delivering optimizing and engaging with content. Adobe markets and licenses its products and services through app stores and its Website www.adobe.com. The Company’s operates in three segments: Digital Marketing Digital Media and Print and Publishing. In Digital Media the Company is engaged in providing tools services and solutions that enable to create publish and promote their content. In Digital Marketing the Company is engaged in providing solutions and services for creating managing executing measuring and optimizing digital advertising and marketing campaigns. Adobe’s Print and Publishing segment addresses various market opportunities including eLearning solutions technical document publishing Web application development and high-end printing.