James J. Burns & Company LLC Increases Holdings in Adobe Inc. (NASDAQ:ADBE)

James J. Burns & Company LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 415 shares of the software company’s stock after buying an additional 22 shares during the quarter. James J. Burns & Company LLC’s holdings in Adobe were worth $215,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ADBE. Martin Investment Management LLC increased its position in Adobe by 10.8% in the third quarter. Martin Investment Management LLC now owns 11,970 shares of the software company’s stock worth $6,198,000 after buying an additional 1,167 shares during the last quarter. Moloney Securities Asset Management LLC raised its stake in Adobe by 28.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 7,562 shares of the software company’s stock valued at $3,915,000 after acquiring an additional 1,695 shares during the period. Legacy CG LLC purchased a new stake in Adobe during the third quarter valued at about $2,989,000. Catalyst Capital Advisors LLC boosted its position in Adobe by 20.3% during the third quarter. Catalyst Capital Advisors LLC now owns 516 shares of the software company’s stock worth $267,000 after purchasing an additional 87 shares during the period. Finally, Rational Advisors LLC purchased a new position in shares of Adobe in the third quarter worth about $518,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 0.3 %

Shares of ADBE opened at $481.35 on Tuesday. The firm has a market cap of $211.89 billion, a P/E ratio of 40.65, a P/E/G ratio of 2.46 and a beta of 1.30. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The stock has a 50 day simple moving average of $520.61 and a two-hundred day simple moving average of $516.26. 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 (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.26 EPS. On average, analysts forecast that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADBE has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $610.00 price target on shares of Adobe in a research note on Tuesday, October 15th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein reduced their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Oppenheimer reiterated an “outperform” rating and set a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, Stifel Nicolaus raised their target price on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $606.40.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 1,530 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares in the company, valued at $9,675,744.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Adobe news, 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 $10,740,738.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,187 shares of company stock worth $17,736,369. Company insiders own 0.15% of the company’s stock.

About Adobe

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.