Caxton Associates LP Invests $566,000 in Adobe Systems Incorporated (ADBE)

Caxton Associates LP purchased a new stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,000 shares of the software company’s stock, valued at approximately $566,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Waldron LP raised its stake in shares of Adobe Systems by 96.9% during the first quarter. Waldron LP now owns 5,487 shares of the software company’s stock valued at $689,000 after purchasing an additional 2,701 shares in the last quarter. Stevens Capital Management LP raised its stake in shares of Adobe Systems by 522.0% during the first quarter. Stevens Capital Management LP now owns 175,327 shares of the software company’s stock valued at $22,815,000 after purchasing an additional 147,139 shares in the last quarter. Outfitter Advisors LTD. raised its stake in shares of Adobe Systems by 1.3% during the first quarter. Outfitter Advisors LTD. now owns 46,832 shares of the software company’s stock valued at $6,094,000 after purchasing an additional 600 shares in the last quarter. Norinchukin Bank The raised its stake in shares of Adobe Systems by 6.8% during the first quarter. Norinchukin Bank The now owns 32,210 shares of the software company’s stock valued at $4,191,000 after purchasing an additional 2,047 shares in the last quarter. Finally, Quantitative Investment Management LLC raised its stake in shares of Adobe Systems by 1.3% during the first quarter. Quantitative Investment Management LLC now owns 75,700 shares of the software company’s stock valued at $9,850,000 after purchasing an additional 1,000 shares in the last quarter. 87.51% of the stock is owned by institutional investors.

In other news, EVP Donna Morris sold 10,000 shares of Adobe Systems stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,359 shares of company stock valued at $4,255,181. Corporate insiders own 0.38% of the company’s stock.

ADBE has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Adobe Systems from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective on the stock. in a research note on Thursday, August 31st. Morgan Stanley restated an “equal weight” rating and set a $137.00 price objective on shares of Adobe Systems in a research note on Friday, June 16th. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the company a “buy” rating in a research note on Friday, October 6th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $157.00 price objective on shares of Adobe Systems in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Adobe Systems currently has a consensus rating of “Buy” and an average price target of $158.16.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share.

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About Adobe Systems

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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