Chicago Capital LLC Buys 325 Shares of Adobe Inc. (NASDAQ:ADBE)

Chicago Capital LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,599 shares of the software company’s stock after purchasing an additional 325 shares during the period. Chicago Capital LLC’s holdings in Adobe were worth $20,504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC boosted its stake in shares of Adobe by 3.9% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after buying an additional 19 shares during the last quarter. HTLF Bank grew its stake in shares of Adobe by 3.3% during the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares during the period. Commonwealth Financial Services LLC increased its position in shares of Adobe by 3.7% during the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after purchasing an additional 19 shares during the last quarter. Orrstown Financial Services Inc. increased its position in shares of Adobe by 0.9% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after purchasing an additional 20 shares during the last quarter. Finally, Orser Capital Management LLC lifted its stake in shares of Adobe by 0.3% in the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the sale, the executive vice president now directly owns 19,658 shares of the company’s stock, valued at $10,556,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the sale, the executive vice president now directly owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,608 shares of company stock valued at $17,486,391. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $494.90 on Friday. 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 company has a market cap of $219.44 billion, a price-to-earnings ratio of 44.47, a PEG ratio of 2.55 and a beta of 1.29. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The stock’s 50 day simple moving average is $535.45 and its two-hundred day simple moving average is $515.78.

Adobe (NASDAQ:ADBE) last released 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 net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the firm earned $3.26 earnings per share. Adobe’s revenue was up 10.6% on a year-over-year basis. As a group, equities analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on ADBE shares. UBS Group cut their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Citigroup lifted their target price on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Oppenheimer restated an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.