Ajo LP Has $26.47 Million Holdings in Adobe Inc. (NASDAQ:ADBE)


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Ajo LP lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 15.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,964 shares of the software company’s stock after buying an additional 7,090 shares during the period. Ajo LP’s holdings in Adobe were worth $26,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Westwood Holdings Group Inc. raised its holdings in shares of Adobe by 40.3% in the 3rd quarter. Westwood Holdings Group Inc. now owns 3,147 shares of the software company’s stock worth $1,543,000 after buying an additional 904 shares in the last quarter. Roble Belko & Company Inc raised its holdings in shares of Adobe by 216.7% in the 3rd quarter. Roble Belko & Company Inc now owns 57 shares of the software company’s stock worth $28,000 after buying an additional 39 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Adobe by 25.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 170 shares of the software company’s stock worth $85,000 after buying an additional 34 shares in the last quarter. Robertson Stephens Wealth Management LLC acquired a new position in shares of Adobe in the 3rd quarter worth approximately $715,000. Finally, Bigelow Investment Advisors LLC acquired a new position in shares of Adobe in the 3rd quarter worth approximately $238,000. 75.66% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the company. Barclays raised their price target on Adobe from $530.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, September 16th. R. F. Lafferty raised their price target on Adobe from $550.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. Wells Fargo & Company raised their price target on Adobe from $375.00 to $500.00 and gave the company an “equal weight” rating in a report on Wednesday, September 16th. Credit Suisse Group set a $560.00 price target on Adobe and gave the company an “outperform” rating in a report on Wednesday, September 16th. Finally, UBS Group raised their price target on Adobe from $540.00 to $577.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $504.86.

In related news, EVP Gloria Chen sold 484 shares of the firm’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $499.00, for a total transaction of $241,516.00. Following the sale, the executive vice president now owns 6,881 shares of the company’s stock, valued at approximately $3,433,619. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Ann Lewnes sold 2,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $450.92, for a total value of $901,840.00. Following the sale, the chief marketing officer now directly owns 30,266 shares in the company, valued at approximately $13,647,544.72. The disclosure for this sale can be found here. Insiders have sold a total of 29,376 shares of company stock worth $14,200,546 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

NASDAQ:ADBE opened at $462.92 on Friday. Adobe Inc. has a 12-month low of $255.13 and a 12-month high of $536.88. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $222.07 billion, a P/E ratio of 58.30, a P/E/G ratio of 2.95 and a beta of 1.02. The stock’s fifty day simple moving average is $481.29 and its 200-day simple moving average is $446.81.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 15th. The software company reported $2.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.16. Adobe had a return on equity of 35.84% and a net margin of 31.05%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $2.05 EPS. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts expect that Adobe Inc. will post 8.23 earnings per share for the current year.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, 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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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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