Courier Capital LLC purchased a new position in shares of Adobe Inc (NASDAQ:ADBE) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 850 shares of the software company’s stock, valued at approximately $227,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its holdings in Adobe by 24,198.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,660,570 shares of the software company’s stock worth $171,000 after purchasing an additional 38,501,463 shares during the last quarter. Vanguard Group Inc raised its holdings in Adobe by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 37,046,965 shares of the software company’s stock worth $10,000,828,000 after purchasing an additional 349,019 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Adobe by 2.8% in the 4th quarter. Jennison Associates LLC now owns 9,101,137 shares of the software company’s stock valued at $2,059,041,000 after acquiring an additional 249,440 shares in the last quarter. Lunia Capital LP increased its stake in shares of Adobe by 23,384.5% in the 4th quarter. Lunia Capital LP now owns 8,928,109 shares of the software company’s stock valued at $8,928,000 after acquiring an additional 8,890,092 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Adobe by 11.2% in the 4th quarter. Geode Capital Management LLC now owns 6,579,460 shares of the software company’s stock valued at $1,486,028,000 after acquiring an additional 664,349 shares in the last quarter. Hedge funds and other institutional investors own 86.40% of the company’s stock.
NASDAQ ADBE traded up $3.75 during mid-day trading on Wednesday, hitting $281.82. The company’s stock had a trading volume of 1,337,443 shares, compared to its average volume of 2,798,848. Adobe Inc has a twelve month low of $204.95 and a twelve month high of $291.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33. The company has a market cap of $133.51 billion, a P/E ratio of 50.78, a PEG ratio of 2.73 and a beta of 1.11.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.25). Adobe had a net margin of 28.08% and a return on equity of 30.60%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the business posted $1.55 EPS. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. Sell-side analysts predict that Adobe Inc will post 6.24 EPS for the current year.
Several research firms have recently weighed in on ADBE. Robert W. Baird lifted their price objective on shares of Adobe from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Zacks Investment Research lowered shares of Adobe from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Morgan Stanley upgraded shares of Adobe from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $282.00 to $340.00 in a research note on Monday, April 29th. Cowen lowered shares of Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 price objective for the company. in a research note on Friday, February 15th. Finally, BidaskClub upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 30th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $289.63.
In other Adobe news, EVP Dana Rao sold 5,955 shares of Adobe stock in a transaction on Monday, March 18th. The shares were sold at an average price of $255.08, for a total transaction of $1,519,001.40. Following the transaction, the executive vice president now directly owns 17,087 shares of the company’s stock, valued at approximately $4,358,551.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Warnock sold 2,000 shares of Adobe stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $260.47, for a total transaction of $520,940.00. Following the transaction, the director now directly owns 16,088 shares in the company, valued at $4,190,441.36. The disclosure for this sale can be found here. In the last three months, insiders sold 56,936 shares of company stock valued at $15,516,808. 0.32% of the stock is currently owned by insiders.
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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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