Middleton & Co. Inc. MA lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,623 shares of the software company’s stock after acquiring an additional 1,970 shares during the period. Adobe makes up 1.3% of Middleton & Co. Inc. MA’s holdings, making the stock its 26th biggest holding. Middleton & Co. Inc. MA’s holdings in Adobe were worth $11,457,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sienna Gestion raised its holdings in shares of Adobe by 0.9% in the second quarter. Sienna Gestion now owns 21,434 shares of the software company’s stock valued at $11,902,000 after purchasing an additional 185 shares during the last quarter. CCLA Investment Management grew its position in Adobe by 29.3% in the 2nd quarter. CCLA Investment Management now owns 256,448 shares of the software company’s stock worth $140,326,000 after purchasing an additional 58,173 shares in the last quarter. Waterloo Capital L.P. increased its stake in Adobe by 6.4% in the 2nd quarter. Waterloo Capital L.P. now owns 4,106 shares of the software company’s stock valued at $2,281,000 after buying an additional 246 shares during the last quarter. Shariaportfolio Inc. lifted its position in shares of Adobe by 12.5% during the 2nd quarter. Shariaportfolio Inc. now owns 3,128 shares of the software company’s stock worth $1,738,000 after buying an additional 347 shares in the last quarter. Finally, Zega Financial LLC purchased a new position in shares of Adobe in the 2nd quarter worth approximately $1,385,000. Institutional investors and hedge funds own 81.79% of the company’s stock.
Adobe Stock Down 1.3 %
ADBE stock opened at $508.13 on Thursday. The stock has a 50-day simple moving average of $550.53 and a two-hundred day simple moving average of $518.99. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The firm has a market capitalization of $225.30 billion, a PE ratio of 45.65, a PEG ratio of 3.03 and a beta of 1.29. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28.
Insider Activity
In related news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the sale, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the transaction, the executive vice president now owns 19,658 shares of the company’s stock, valued at $10,556,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. The disclosure for this sale can be found here. Insiders sold 27,259 shares of company stock worth $14,855,543 in the last three months. Corporate insiders own 0.15% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on ADBE shares. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Bank of America reaffirmed a “buy” rating and set a $640.00 target price on shares of Adobe in a research report on Friday, September 13th. KeyCorp boosted their price target on shares of Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a report on Friday, June 14th. Melius Research restated a “hold” rating and set a $510.00 price objective on shares of Adobe in a report on Monday, June 10th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $650.00 target price on shares of Adobe in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $606.58.
Get Our Latest Stock Analysis on Adobe
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.
Featured Articles
- Five stocks we like better than Adobe
- What Are Dividend Achievers? An Introduction
- How Much Can You Make in Stocks in One Month?
- What Investors Need to Know to Beat the Market
- This Is the Top Large-Cap Stock Insiders Are Buying
- Investing in Commodities: What Are They? How to Invest in Them
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
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:ADBE – Free Report).
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.