Adobe Inc. (NASDAQ:ADBE) Holdings Lifted by Pictet North America Advisors SA

Pictet North America Advisors SA increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 798.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,033 shares of the software company’s stock after acquiring an additional 4,473 shares during the period. Pictet North America Advisors SA’s holdings in Adobe were worth $2,606,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Piscataqua Savings Bank lifted its position in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares in the last quarter. Tradewinds Capital Management LLC increased its holdings in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Salomon & Ludwin LLC raised its position in Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Adobe in the second quarter valued at approximately $33,000. Finally, Lynx Investment Advisory bought a new stake in Adobe in the second quarter worth approximately $39,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Down 0.9 %

NASDAQ ADBE opened at $493.11 on Wednesday. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The company has a market capitalization of $218.64 billion, a price-to-earnings ratio of 44.30, a PEG ratio of 2.55 and a beta of 1.29. The stock’s 50 day moving average is $533.94 and its two-hundred day moving average is $516.05. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating 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 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 previous year, the company earned $3.26 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts forecast that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Barclays raised their price target on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Bank of America reaffirmed a “buy” rating and issued a $640.00 price target on shares of Adobe in a research report on Friday, September 13th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Morgan Stanley restated an “overweight” rating and issued a $660.00 target price on shares of Adobe in a report on Friday, September 13th. Finally, Citigroup increased their price target on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Insiders Place Their Bets

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

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.