Adobe Inc. (NASDAQ:ADBE) Shares Bought by Willis Investment Counsel

Willis Investment Counsel lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,903 shares of the software company’s stock after acquiring an additional 416 shares during the quarter. Willis Investment Counsel’s holdings in Adobe were worth $8,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC grew its position in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after buying an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new position in Adobe in the 2nd quarter worth $33,000. Lynx Investment Advisory purchased a new position in Adobe in the 2nd quarter valued at about $39,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Adobe during the second quarter worth about $39,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ADBE shares. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Sanford C. Bernstein reduced their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $610.00 price target on shares of Adobe in a research report on Friday, September 13th. Citigroup upped their price objective on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Trading Down 1.6 %

Adobe stock opened at $495.42 on Monday. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $219.67 billion, a PE ratio of 44.51, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The firm has a 50 day simple moving average of $537.29 and a 200-day simple moving average of $515.88.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results 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. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company posted $3.26 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 357,700 shares in the company, valued at $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 32,229 shares of company stock worth $16,785,501. 0.15% of the stock is owned by corporate insiders.

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.