Vise Technologies Inc. purchased a new stake in Adobe Inc. (NASDAQ:ADBE – Get Rating) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 473 shares of the software company’s stock, valued at approximately $216,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. Teachers Retirement System of The State of Kentucky raised its stake in shares of Adobe by 20.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 56,700 shares of the software company’s stock worth $25,833,000 after purchasing an additional 9,479 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Adobe by 6.4% in the first quarter. Rehmann Capital Advisory Group now owns 4,623 shares of the software company’s stock worth $2,105,000 after purchasing an additional 277 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Adobe by 4.5% in the first quarter. Kestra Private Wealth Services LLC now owns 10,725 shares of the software company’s stock worth $4,887,000 after purchasing an additional 465 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Adobe by 3,902.6% in the first quarter. Gradient Investments LLC now owns 6,084 shares of the software company’s stock worth $2,772,000 after purchasing an additional 5,932 shares during the last quarter. Finally, Martin Currie Ltd. raised its stake in shares of Adobe by 3.7% in the first quarter. Martin Currie Ltd. now owns 196,850 shares of the software company’s stock worth $89,689,000 after purchasing an additional 7,115 shares during the last quarter. 80.75% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Adobe
In other Adobe news, CMO Ann Lewnes sold 794 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $400.00, for a total transaction of $317,600.00. Following the transaction, the chief marketing officer now owns 23,988 shares of the company’s stock, valued at $9,595,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Adobe news, EVP Scott Belsky sold 2,711 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $393.58, for a total transaction of $1,066,995.38. Following the transaction, the executive vice president now owns 26,089 shares of the company’s stock, valued at $10,268,108.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Ann Lewnes sold 794 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $400.00, for a total value of $317,600.00. Following the transaction, the chief marketing officer now directly owns 23,988 shares in the company, valued at approximately $9,595,200. The disclosure for this sale can be found here. Insiders have sold 3,637 shares of company stock valued at $1,438,682 over the last ninety days. Insiders own 0.23% of the company’s stock.
Adobe Stock Performance
Shares of NASDAQ:ADBE opened at $299.50 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day moving average price is $398.63 and its 200-day moving average price is $409.38. The firm has a market capitalization of $140.17 billion, a PE ratio of 29.25, a P/E/G ratio of 2.05 and a beta of 1.14. Adobe Inc. has a 1 year low of $292.14 and a 1 year high of $699.54.
Adobe (NASDAQ:ADBE – Get Rating) last issued its quarterly earnings results on Thursday, September 15th. The software company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.07. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.44 billion. Adobe had a return on equity of 36.70% and a net margin of 29.29%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.65 earnings per share. As a group, equities research analysts expect that Adobe Inc. will post 10.98 earnings per share for the current fiscal year.
Analyst Ratings Changes
ADBE has been the subject of several research analyst reports. Cowen reduced their price objective on Adobe from $520.00 to $400.00 and set an “outperform” rating for the company in a research note on Friday. Stifel Nicolaus reduced their price objective on Adobe from $500.00 to $375.00 and set a “buy” rating for the company in a research note on Friday. Mizuho reduced their price objective on Adobe from $440.00 to $360.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their price target on Adobe from $500.00 to $400.00 and set a “buy” rating for the company in a research report on Friday. Finally, Cowen reduced their price target on Adobe from $520.00 to $400.00 and set an “outperform” rating for the company in a research report on Friday. Fourteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $434.35.
Adobe Company Profile
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Adobe Inc 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.
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