Adobe Inc. (NASDAQ:ADBE) Shares Bought by Signaturefd LLC

Signaturefd LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,061 shares of the software company’s stock after acquiring an additional 658 shares during the period. Signaturefd LLC’s holdings in Adobe were worth $5,727,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Adobe by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock valued at $20,511,473,000 after acquiring an additional 382,803 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after buying an additional 1,146,718 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Adobe by 0.6% during the second quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock worth $1,097,475,000 after buying an additional 12,065 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Adobe by 0.8% during the second quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock worth $1,097,044,000 after buying an additional 15,685 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Adobe by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock worth $945,780,000 after buying an additional 185,737 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Shares of ADBE traded down $8.48 during trading hours on Tuesday, hitting $489.23. The stock had a trading volume of 996,194 shares, compared to its average volume of 3,198,410. The company’s fifty day moving average is $534.79 and its two-hundred day moving average is $515.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The stock has a market capitalization of $216.92 billion, a price-to-earnings ratio of 44.39, a P/E/G ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the firm earned $3.26 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts anticipate that Adobe Inc. will post 14.8 EPS for the current year.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the transaction, the executive vice president now owns 19,658 shares in the company, valued at $10,556,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,501,989. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the transaction, the executive vice president now owns 19,658 shares in the company, valued at approximately $10,556,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,608 shares of company stock worth $17,486,391 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein cut their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, UBS Group cut their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe Company 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.