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

Brinker Capital Inc. lifted its stake in shares of Adobe Inc (NASDAQ:ADBE) by 10.2% during the third quarter, Holdings Channel reports. The fund owned 9,587 shares of the software company’s stock after purchasing an additional 889 shares during the quarter. Brinker Capital Inc.’s holdings in Adobe were worth $2,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ADBE. YorkBridge Wealth Partners LLC boosted its stake in Adobe by 3.3% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 9,550 shares of the software company’s stock worth $2,638,000 after buying an additional 308 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Adobe by 2.5% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 147,304 shares of the software company’s stock worth $41,000 after buying an additional 3,575 shares during the last quarter. Broadleaf Partners LLC boosted its stake in Adobe by 21.7% in the 3rd quarter. Broadleaf Partners LLC now owns 18,376 shares of the software company’s stock worth $5,076,000 after buying an additional 3,282 shares during the last quarter. Avitas Wealth Management LLC boosted its stake in Adobe by 1.2% in the 3rd quarter. Avitas Wealth Management LLC now owns 22,148 shares of the software company’s stock worth $6,118,000 after buying an additional 271 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in Adobe by 3.6% in the 3rd quarter. Stephens Inc. AR now owns 50,872 shares of the software company’s stock worth $14,053,000 after buying an additional 1,775 shares during the last quarter. 86.35% of the stock is currently owned by institutional investors and hedge funds.

ADBE has been the topic of several research analyst reports. Stephens set a $327.00 price objective on Adobe and gave the company a “buy” rating in a research note on Wednesday, September 18th. Canaccord Genuity set a $320.00 price objective on Adobe and gave the company a “buy” rating in a research note on Wednesday, September 18th. JMP Securities reaffirmed a “hold” rating on shares of Adobe in a research note on Wednesday, September 18th. Nomura reduced their price objective on Adobe from $315.00 to $310.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Griffin Securities lifted their price objective on Adobe from $303.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $301.04.

Shares of NASDAQ:ADBE opened at $261.09 on Wednesday. The company has a market cap of $128.53 billion, a P/E ratio of 47.04, a PEG ratio of 2.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 0.74. Adobe Inc has a one year low of $204.95 and a one year high of $313.11. The business’s 50-day simple moving average is $276.58 and its 200 day simple moving average is $283.81.

Adobe (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 17th. The software company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.97 by $0.08. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.82 billion. Adobe had a return on equity of 30.49% and a net margin of 26.10%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. Analysts predict that Adobe Inc will post 6.39 earnings per share for the current year.

In related news, EVP Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $289.32, for a total transaction of $867,960.00. Following the sale, the executive vice president now directly owns 55,198 shares in the company, valued at approximately $15,969,885.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Dana Rao sold 2,832 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $303.36, for a total value of $859,115.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,832 shares of company stock worth $3,359,226. Company insiders own 0.32% of the company’s stock.

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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