Adams Diversified Equity Fund Inc. Reduces Stake in Adobe Inc. (NASDAQ:ADBE)

Adams Diversified Equity Fund Inc. lowered its position in Adobe Inc. (NASDAQ:ADBEFree Report) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,600 shares of the software company’s stock after selling 2,600 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Adobe were worth $13,773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ADBE. Farmers & Merchants Investments Inc. boosted its position in Adobe by 69.2% in the first quarter. Farmers & Merchants Investments Inc. now owns 621 shares of the software company’s stock valued at $313,000 after buying an additional 254 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after acquiring an additional 40 shares during the period. Valeo Financial Advisors LLC lifted its holdings in Adobe by 8.0% in the first quarter. Valeo Financial Advisors LLC now owns 5,563 shares of the software company’s stock valued at $2,807,000 after acquiring an additional 413 shares during the period. Mainsail Financial Group LLC lifted its holdings in Adobe by 2.3% in the first quarter. Mainsail Financial Group LLC now owns 2,149 shares of the software company’s stock valued at $1,084,000 after acquiring an additional 49 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its holdings in Adobe by 7.0% in the first quarter. First Trust Direct Indexing L.P. now owns 9,457 shares of the software company’s stock valued at $4,772,000 after acquiring an additional 619 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 481 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,511 shares of company stock worth $17,408,530. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Up 0.9 %

Shares of NASDAQ:ADBE opened at $485.39 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $526.85 and a two-hundred day moving average of $516.01. The stock has a market cap of $215.22 billion, a P/E ratio of 43.61, a PEG ratio of 2.55 and a beta of 1.29. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBEGet Free Report) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.26 EPS. On average, research analysts expect that Adobe Inc. will post 14.8 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on ADBE shares. Sanford C. Bernstein decreased their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Morgan Stanley reissued an “overweight” rating and issued a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price target on shares of Adobe in a report on Tuesday, October 15th. Finally, UBS Group reduced their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Read Our Latest Analysis on Adobe

Adobe Company Profile

(Free Report)

Adobe Inc, together with its subsidiaries, 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.

Featured Articles

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBEFree Report).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.