Adobe Inc. (NASDAQ:ADBE) Position Increased by Crew Capital Management Ltd.

Crew Capital Management Ltd. raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 80.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,251 shares of the software company’s stock after buying an additional 1,446 shares during the period. Adobe comprises approximately 1.3% of Crew Capital Management Ltd.’s investment portfolio, making the stock its 11th biggest position. Crew Capital Management Ltd.’s holdings in Adobe were worth $1,683,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ADBE. Bellecapital International Ltd. boosted its stake in Adobe by 3.0% in the 3rd quarter. Bellecapital International Ltd. now owns 37,561 shares of the software company’s stock worth $19,448,000 after purchasing an additional 1,098 shares during the period. Arlington Partners LLC lifted its position in Adobe by 18.3% in the 3rd quarter. Arlington Partners LLC now owns 7,551 shares of the software company’s stock worth $3,910,000 after buying an additional 1,169 shares in the last quarter. Trilogy Capital Inc. lifted its position in Adobe by 20.9% in the 3rd quarter. Trilogy Capital Inc. now owns 3,336 shares of the software company’s stock worth $1,727,000 after buying an additional 576 shares in the last quarter. Barden Capital Management Inc. raised its holdings in shares of Adobe by 2.5% during the 3rd quarter. Barden Capital Management Inc. now owns 5,909 shares of the software company’s stock valued at $3,060,000 after purchasing an additional 142 shares in the last quarter. Finally, Violich Capital Management Inc. raised its holdings in shares of Adobe by 0.5% during the 3rd quarter. Violich Capital Management Inc. now owns 4,776 shares of the software company’s stock valued at $2,473,000 after purchasing an additional 25 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the transaction, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,608 shares of company stock valued at $17,486,391 over the last ninety days. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE traded up $0.58 during trading on Monday, reaching $495.48. The company had a trading volume of 507,656 shares, compared to its average volume of 3,203,488. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The stock has a market cap of $219.70 billion, a PE ratio of 44.66, a PEG ratio of 2.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $535.45 and its 200-day moving average price is $515.91.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.26 earnings per share. Analysts expect that Adobe Inc. will post 14.8 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADBE. Oppenheimer restated an “outperform” rating and set a $625.00 price target on shares of Adobe in a report on Friday, September 13th. Stifel Nicolaus raised their price target on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada restated an “outperform” rating and set a $610.00 price target on shares of Adobe in a report on Tuesday, October 15th. Sanford C. Bernstein dropped their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Finally, Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.