Lindbrook Capital LLC Purchases 71 Shares of Adobe Inc. (NASDAQ:ADBE)

Lindbrook Capital LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,578 shares of the software company’s stock after acquiring an additional 71 shares during the period. Lindbrook Capital LLC’s holdings in Adobe were worth $1,852,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Adobe by 28.0% during the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after purchasing an additional 1,412 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in shares of Adobe by 1.0% during the 3rd quarter. Crestwood Advisors Group LLC now owns 149,968 shares of the software company’s stock worth $77,650,000 after acquiring an additional 1,464 shares during the last quarter. Anchor Investment Management LLC grew its position in Adobe by 9.8% in the second quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock worth $8,892,000 after acquiring an additional 1,430 shares in the last quarter. Fairscale Capital LLC bought a new position in Adobe in the second quarter valued at $1,318,000. Finally, Daymark Wealth Partners LLC raised its position in Adobe by 89.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock valued at $5,065,000 after purchasing an additional 4,315 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

NASDAQ:ADBE opened at $494.68 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The stock has a market cap of $217.76 billion, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. The firm’s fifty day simple moving average is $514.90 and its 200 day simple moving average is $516.42.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm posted $3.26 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts predict that Adobe Inc. will post 14.82 EPS for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a report on Tuesday, October 15th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. UBS Group lowered their price objective on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Bank of America reaffirmed a “buy” rating and set a $640.00 target price on shares of Adobe in a report on Friday, September 13th. Finally, Sanford C. Bernstein decreased their target price 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Insiders Place Their Bets

In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction 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 transaction, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In 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.