Bailard Inc. decreased its position in Adobe Inc (NASDAQ:ADBE) by 0.8% in the third quarter, Holdings Channel.com reports. The firm owned 41,630 shares of the software company’s stock after selling 320 shares during the quarter. Adobe comprises approximately 0.7% of Bailard Inc.’s investment portfolio, making the stock its 26th largest position. Bailard Inc.’s holdings in Adobe were worth $11,500,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Park National Corp OH raised its holdings in Adobe by 19.2% in the second quarter. Park National Corp OH now owns 44,995 shares of the software company’s stock worth $13,258,000 after purchasing an additional 7,257 shares in the last quarter. Private Trust Co. NA raised its holdings in Adobe by 12.5% in the second quarter. Private Trust Co. NA now owns 6,018 shares of the software company’s stock worth $1,773,000 after purchasing an additional 669 shares in the last quarter. Private Asset Management Inc. raised its holdings in Adobe by 3.4% in the second quarter. Private Asset Management Inc. now owns 1,500 shares of the software company’s stock worth $442,000 after purchasing an additional 50 shares in the last quarter. Dorsey Wright & Associates raised its holdings in Adobe by 0.5% in the second quarter. Dorsey Wright & Associates now owns 22,559 shares of the software company’s stock worth $6,647,000 after purchasing an additional 107 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in Adobe by 5.9% in the second quarter. Fulton Bank N.A. now owns 1,337 shares of the software company’s stock worth $394,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.
A number of research firms have recently commented on ADBE. Cleveland Research began coverage on Adobe in a research note on Tuesday, October 15th. They issued a “neutral” rating and a $283.00 target price on the stock. BidaskClub cut Adobe from a “sell” rating to a “strong sell” rating in a research note on Saturday. Nomura cut their target price on Adobe from $315.00 to $310.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. JMP Securities reissued a “hold” rating on shares of Adobe in a research note on Wednesday, September 18th. Finally, Griffin Securities increased their target price on Adobe from $303.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Adobe presently has an average rating of “Hold” and an average target price of $301.46.
Adobe stock opened at $265.52 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.74. Adobe Inc has a one year low of $204.95 and a one year high of $313.11. The stock has a market capitalization of $130.33 billion, a PE ratio of 47.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09. The business’s fifty day moving average is $278.16 and its 200 day moving average is $283.92.
Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.97 by $0.08. Adobe had a return on equity of 30.49% and a net margin of 26.10%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the firm posted $1.73 earnings per share. Adobe’s revenue was up 23.7% compared to the same quarter last year. As a group, sell-side analysts expect that Adobe Inc will post 6.39 EPS for the current fiscal year.
In related news, EVP Dana Rao sold 2,832 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $303.36, for a total transaction of $859,115.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 3,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $289.32, for a total value of $867,960.00. Following the sale, the executive vice president now directly owns 55,198 shares in the company, valued at $15,969,885.36. The disclosure for this sale can be found here. Insiders have sold 11,832 shares of company stock worth $3,359,226 over the last ninety days. 0.32% of the stock is currently owned by insiders.
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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