Cable Hill Partners LLC Has $711,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Cable Hill Partners LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 31.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,374 shares of the software company’s stock after acquiring an additional 331 shares during the quarter. Cable Hill Partners LLC’s holdings in Adobe were worth $711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kingsview Wealth Management LLC increased its position in shares of Adobe by 13.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 15,645 shares of the software company’s stock worth $7,895,000 after purchasing an additional 1,851 shares during the last quarter. Brighton Jones LLC raised its position in Adobe by 1.0% during the first quarter. Brighton Jones LLC now owns 7,984 shares of the software company’s stock worth $4,029,000 after acquiring an additional 80 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Adobe by 3.0% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,699 shares of the software company’s stock valued at $3,380,000 after acquiring an additional 197 shares during the last quarter. Great Lakes Retirement Inc. grew its position in shares of Adobe by 4.9% in the 1st quarter. Great Lakes Retirement Inc. now owns 3,663 shares of the software company’s stock valued at $1,848,000 after acquiring an additional 172 shares during the period. Finally, Longitude Cayman Ltd. acquired a new position in shares of Adobe during the 1st quarter worth about $505,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. The trade was 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 34,187 shares of company stock worth $17,736,369. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ADBE shares. Citigroup lifted their price target on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Bank of America reiterated a “buy” rating and set a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Barclays increased their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, Oppenheimer restated an “outperform” rating and set a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Stock Performance

Adobe stock opened at $532.50 on Thursday. The stock has a market cap of $234.41 billion, a PE ratio of 44.97, a P/E/G ratio of 2.71 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The business’s 50-day moving average price is $512.61 and its two-hundred day moving average price is $517.56.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the company earned $3.26 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts expect that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

About Adobe

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.