Adobe Inc. (NASDAQ:ADBE) Stake Boosted by Hamilton Point Investment Advisors LLC

Hamilton Point Investment Advisors LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,876 shares of the software company’s stock after purchasing an additional 400 shares during the period. Adobe comprises about 1.8% of Hamilton Point Investment Advisors LLC’s portfolio, making the stock its 14th largest holding. Hamilton Point Investment Advisors LLC’s holdings in Adobe were worth $10,291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ADBE. International Assets Investment Management LLC grew its holdings in shares of Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after purchasing an additional 1,376,333 shares during the last quarter. Swedbank AB acquired a new position in Adobe during the 1st quarter valued at approximately $621,179,000. Longview Partners Guernsey LTD acquired a new stake in Adobe in the second quarter worth $663,745,000. BlueSpruce Investments LP lifted its stake in Adobe by 81.1% in the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock valued at $648,712,000 after buying an additional 575,675 shares during the last quarter. Finally, Liberty Wealth Management LLC boosted its holdings in shares of Adobe by 55,496.6% during the second quarter. Liberty Wealth Management LLC now owns 572,645 shares of the software company’s stock valued at $318,127,000 after acquiring an additional 571,615 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the transaction, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction on Tuesday, September 17th. The stock was 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 23.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on ADBE shares. Morgan Stanley restated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a research note on Friday, September 13th. Royal Bank of Canada restated an “outperform” rating and issued a $610.00 target price on shares of Adobe in a research report on Tuesday, October 15th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Oppenheimer reissued an “outperform” rating and set a $625.00 price target on shares of Adobe in a report on Friday, September 13th. Finally, Sanford C. Bernstein reduced their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Two investment 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. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Up 1.5 %

Shares of Adobe stock opened at $512.15 on Friday. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $503.13 and a two-hundred day moving average price of $518.84. The stock has a market capitalization of $225.45 billion, a P/E ratio of 43.26, a PEG ratio of 2.60 and a beta of 1.30.

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

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.