Vigilant Capital Management LLC Sells 20 Shares of Adobe Inc. (NASDAQ:ADBE)

Vigilant Capital Management LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 13.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132 shares of the software company’s stock after selling 20 shares during the quarter. Vigilant Capital Management LLC’s holdings in Adobe were worth $65,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Public Employees Retirement Association of Colorado lifted its position in Adobe by 3.5% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 91,987 shares of the software company’s stock valued at $29,274,000 after acquiring an additional 3,143 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in Adobe during the 1st quarter valued at $951,000. Cohen & Steers Inc. purchased a new stake in Adobe during the 1st quarter valued at $88,000. Maverick Capital Ltd. raised its stake in Adobe by 15.6% during the 1st quarter. Maverick Capital Ltd. now owns 206,425 shares of the software company’s stock valued at $65,693,000 after buying an additional 27,891 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in Adobe by 94.1% during the 1st quarter. APG Asset Management N.V. now owns 578,108 shares of the software company’s stock valued at $183,977,000 after buying an additional 280,296 shares during the last quarter. 84.03% of the stock is currently owned by institutional investors and hedge funds.

ADBE opened at $502.82 on Friday. The firm has a 50-day simple moving average of $490.24 and a two-hundred day simple moving average of $420.66. Adobe Inc. has a 52 week low of $255.13 and a 52 week high of $536.88. The company has a market capitalization of $241.21 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 3.89 and a beta of 0.97. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.35.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 15th. The software company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.41 by $0.16. Adobe had a net margin of 31.05% and a return on equity of 35.84%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business’s revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts expect that Adobe Inc. will post 8.2 earnings per share for the current year.

In related news, EVP Scott Belsky sold 600 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $499.26, for a total value of $299,556.00. Following the completion of the transaction, the executive vice president now owns 10,253 shares of the company’s stock, valued at approximately $5,118,912.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 10,000 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $445.00, for a total transaction of $4,450,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,470 shares of company stock valued at $34,289,308. 0.31% of the stock is owned by insiders.

ADBE has been the subject of a number of research reports. JPMorgan Chase & Co. reiterated a “buy” rating and set a $550.00 target price (up from $430.00) on shares of Adobe in a research note on Wednesday, September 16th. Credit Suisse Group set a $560.00 target price on shares of Adobe and gave the company an “outperform” rating in a research note on Wednesday, September 16th. BofA Securities boosted their target price on shares of Adobe from $440.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, September 16th. BMO Capital Markets restated an “equal weight” rating and issued a $500.00 price objective (up from $375.00) on shares of Adobe in a research note on Wednesday, September 16th. Finally, Goldman Sachs Group upped their price objective on Adobe from $460.00 to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $507.10.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, 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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