Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Arjuna Capital

Arjuna Capital lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 10.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,848 shares of the software company’s stock after purchasing an additional 465 shares during the quarter. Arjuna Capital’s holdings in Adobe were worth $2,510,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Piscataqua Savings Bank grew its stake in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Summit Securities Group LLC acquired a new position in shares of Adobe during the 2nd quarter worth $33,000. Highline Wealth Partners LLC acquired a new position in shares of Adobe during the 3rd quarter worth $38,000. Lynx Investment Advisory acquired a new stake in Adobe in the 2nd quarter valued at about $39,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Adobe in the 2nd quarter valued at about $39,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Adobe news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is currently owned by corporate insiders.

Adobe Trading Down 0.5 %

ADBE traded down $2.42 on Wednesday, reaching $524.00. 352,614 shares of the company’s stock were exchanged, compared to its average volume of 3,151,780. The company’s 50 day moving average is $512.61 and its 200-day moving average is $517.56. The company has a market cap of $230.66 billion, a price-to-earnings ratio of 44.46, a PEG ratio of 2.60 and a beta of 1.30. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’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. Equities analysts predict that Adobe Inc. will post 14.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ADBE shares. Morgan Stanley reissued an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a research note on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a research note on Tuesday, October 15th. Citigroup increased their price objective on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Stifel Nicolaus increased their price objective on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research note 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.