Triodos Investment Management BV lessened its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 8.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,760 shares of the software company’s stock after selling 4,390 shares during the quarter. Adobe comprises approximately 3.4% of Triodos Investment Management BV’s portfolio, making the stock its 14th biggest holding. Triodos Investment Management BV’s holdings in Adobe were worth $13,470,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Marquette Asset Management LLC raised its stake in Adobe by 114.3% in the second quarter. Marquette Asset Management LLC now owns 90 shares of the software company’s stock valued at $27,000 after purchasing an additional 48 shares in the last quarter. JNBA Financial Advisors raised its stake in Adobe by 666.7% in the second quarter. JNBA Financial Advisors now owns 92 shares of the software company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. Manchester Financial Inc. purchased a new stake in Adobe in the second quarter valued at approximately $28,000. JJJ Advisors Inc. purchased a new stake in Adobe in the third quarter valued at approximately $28,000. Finally, Hexavest Inc. grew its position in Adobe by 58.2% during the third quarter. Hexavest Inc. now owns 106 shares of the software company’s stock valued at $29,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.
Shares of ADBE traded up $1.69 during trading hours on Friday, hitting $292.46. The company had a trading volume of 1,628,400 shares, compared to its average volume of 2,747,625. The firm has a fifty day moving average price of $275.11 and a 200-day moving average price of $284.38. The stock has a market capitalization of $140.04 billion, a price-to-earnings ratio of 52.70, a P/E/G ratio of 2.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 0.74. Adobe Inc has a 52-week low of $204.95 and a 52-week high of $313.11.
Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.08. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.82 billion. Adobe had a return on equity of 30.49% and a net margin of 26.10%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. Research analysts anticipate that Adobe Inc will post 6.39 earnings per share for the current fiscal year.
In related news, CMO Ann Lewnes sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $269.71, for a total value of $809,130.00. Following the transaction, the chief marketing officer now directly owns 49,148 shares of the company’s stock, valued at approximately $13,255,707.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 9,000 shares of company stock worth $2,500,110. 0.32% of the stock is owned by insiders.
A number of research analysts have commented on ADBE shares. Credit Suisse Group set a $325.00 price target on shares of Adobe and gave the company a “buy” rating in a research report on Tuesday, September 17th. Cleveland Research started coverage on shares of Adobe in a research report on Tuesday, October 15th. They set a “neutral” rating and a $283.00 price target on the stock. Stephens set a $327.00 price target on shares of Adobe and gave the company a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on shares of Adobe from $318.00 to $322.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, ValuEngine cut shares of Adobe from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $304.88.
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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