Adobe Inc (NASDAQ:ADBE) Holdings Lifted by Advisor Partners LLC

Advisor Partners LLC grew its position in Adobe Inc (NASDAQ:ADBE) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,186 shares of the software company’s stock after purchasing an additional 861 shares during the period. Advisor Partners LLC’s holdings in Adobe were worth $3,919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Nuveen Asset Management LLC grew its position in Adobe by 17,012.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,916,308 shares of the software company’s stock worth $1,153,941,000 after purchasing an additional 3,893,422 shares during the last quarter. Invesco Ltd. grew its position in Adobe by 37.5% in the 2nd quarter. Invesco Ltd. now owns 7,973,766 shares of the software company’s stock worth $2,349,470,000 after purchasing an additional 2,174,047 shares during the last quarter. BlackRock Inc. grew its position in Adobe by 2.7% in the 2nd quarter. BlackRock Inc. now owns 33,730,576 shares of the software company’s stock worth $9,938,712,000 after purchasing an additional 887,115 shares during the last quarter. Morgan Stanley grew its position in Adobe by 13.2% in the 2nd quarter. Morgan Stanley now owns 6,950,101 shares of the software company’s stock worth $2,047,848,000 after purchasing an additional 812,144 shares during the last quarter. Finally, Investec Asset Management LTD grew its position in Adobe by 77,287.5% in the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the software company’s stock worth $247,000 after purchasing an additional 647,669 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.

NASDAQ:ADBE traded down $3.95 during trading hours on Thursday, reaching $268.75. 613,112 shares of the company’s stock were exchanged, compared to its average volume of 3,162,444. The company has a market capitalization of $134.47 billion, a P/E ratio of 48.42, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. Adobe Inc has a 12 month low of $204.95 and a 12 month high of $313.11. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.10. The business’s 50-day simple moving average is $278.89 and its two-hundred day simple moving average is $283.92.

Adobe (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 17th. The software company reported $2.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.08. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Adobe had a net margin of 26.10% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. As a group, sell-side analysts anticipate that Adobe Inc will post 6.38 earnings per share for the current fiscal year.

ADBE has been the subject of several recent analyst reports. Cleveland Research initiated coverage on shares of Adobe in a report on Tuesday. They issued a “neutral” rating and a $283.00 price objective for the company. Canaccord Genuity set a $320.00 price objective on shares of Adobe and gave the company a “buy” rating in a report on Wednesday, September 18th. ValuEngine cut shares of Adobe from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. BidaskClub cut shares of Adobe from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Finally, KeyCorp reiterated a “hold” rating on shares of Adobe in a report on Wednesday, June 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $301.46.

In related news, EVP Ann Lewnes sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $289.32, for a total value of $867,960.00. Following the completion of the sale, the executive vice president now owns 55,198 shares in the company, valued at approximately $15,969,885.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dana Rao sold 2,832 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $303.36, for a total transaction of $859,115.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,832 shares of company stock valued at $2,550,096. 0.32% of the stock is owned by insiders.

About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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