Adobe Inc. (NASDAQ:ADBE) Shares Bought by Holistic Financial Partners

Holistic Financial Partners lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 6.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 387 shares of the software company’s stock after purchasing an additional 22 shares during the period. Holistic Financial Partners’ holdings in Adobe were worth $200,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock valued at $3,857,189,000 after buying an additional 1,146,718 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Adobe by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock valued at $1,097,475,000 after acquiring an additional 12,065 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Adobe by 0.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock worth $1,097,044,000 after purchasing an additional 15,685 shares during the period. Dimensional Fund Advisors LP grew its position in Adobe by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock worth $945,780,000 after purchasing an additional 185,737 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after purchasing an additional 1,376,333 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 676 shares of Adobe 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 transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Down 5.0 %

Shares of ADBE stock opened at $503.37 on Monday. The stock has a 50 day moving average of $509.79 and a 200-day moving average of $518.69. The firm has a market cap of $221.58 billion, a PE ratio of 42.51, a price-to-earnings-growth ratio of 2.59 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.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $3.26 EPS. On average, equities analysts predict that Adobe Inc. will post 14.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ADBE. Citigroup lifted their price target on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $610.00 target price on shares of Adobe in a report on Tuesday, October 15th. Morgan Stanley restated an “overweight” rating and set a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Argus raised shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Stifel Nicolaus increased their target price on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Company Profile

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.