Golub Group LLC increased its position in Adobe Inc (NASDAQ:ADBE) by 28.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 895 shares of the software company’s stock after purchasing an additional 200 shares during the period. Golub Group LLC’s holdings in Adobe were worth $247,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Shine Investment Advisory Services Inc. lifted its position in Adobe by 1.3% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 2,539 shares of the software company’s stock worth $748,000 after buying an additional 33 shares in the last quarter. Brandywine Oak Private Wealth LLC lifted its position in Adobe by 2.0% in the 3rd quarter. Brandywine Oak Private Wealth LLC now owns 1,851 shares of the software company’s stock worth $511,000 after buying an additional 36 shares in the last quarter. Rockland Trust Co. lifted its position in Adobe by 1.3% in the 2nd quarter. Rockland Trust Co. now owns 2,965 shares of the software company’s stock worth $874,000 after buying an additional 37 shares in the last quarter. First National Bank of Hutchinson lifted its position in Adobe by 1.5% in the 2nd quarter. First National Bank of Hutchinson now owns 2,492 shares of the software company’s stock worth $766,000 after buying an additional 37 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in Adobe by 0.8% in the 2nd quarter. Zions Bancorporation N.A. now owns 4,559 shares of the software company’s stock worth $1,343,000 after buying an additional 38 shares in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:ADBE traded up $1.69 during midday trading on Friday, reaching $292.46. The stock had a trading volume of 1,628,400 shares, compared to its average volume of 2,747,625. The stock has a market capitalization of $140.04 billion, a P/E ratio of 52.70, a PEG ratio of 2.79 and a beta of 1.09. Adobe Inc has a 1-year low of $204.95 and a 1-year high of $313.11. The firm’s fifty day simple moving average is $275.11 and its 200-day simple moving average is $284.38. 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 (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities research analysts anticipate that Adobe Inc will post 6.39 earnings per share for the current fiscal year.
In other Adobe news, CMO Ann Lewnes sold 3,000 shares of Adobe stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $274.34, for a total value of $823,020.00. Following the completion of the transaction, the chief marketing officer now owns 52,398 shares in the company, valued at approximately $14,374,867.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 9,000 shares of company stock valued at $2,500,110. Corporate insiders own 0.32% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reiterated a “neutral” rating and issued a $325.00 target price on shares of Adobe in a research report on Wednesday, September 18th. Stephens set a $327.00 price target on shares of Adobe and gave the company a “buy” rating in a report on Wednesday, September 18th. Barclays cut their price target on shares of Adobe from $330.00 to $325.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. JMP Securities restated a “hold” rating on shares of Adobe in a report on Wednesday, September 18th. Finally, Credit Suisse Group set a $325.00 price target on shares of Adobe and gave the company a “buy” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $304.88.
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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