Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,785 shares of the software company’s stock after acquiring an additional 168 shares during the period. Fidelis Capital Partners LLC’s holdings in Adobe were worth $2,458,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Greenline Partners LLC purchased a new position in Adobe in the second quarter valued at approximately $413,000. Frank Rimerman Advisors LLC grew its position in shares of Adobe by 1,079.7% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 9,697 shares of the software company’s stock valued at $5,387,000 after buying an additional 8,875 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Adobe by 333.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,104 shares of the software company’s stock valued at $3,947,000 after buying an additional 5,465 shares during the last quarter. Alaethes Wealth LLC raised its stake in Adobe by 2.7% during the 2nd quarter. Alaethes Wealth LLC now owns 5,993 shares of the software company’s stock worth $3,329,000 after acquiring an additional 155 shares in the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in Adobe by 19.2% in the second quarter. Legacy Financial Advisors Inc. now owns 1,965 shares of the software company’s stock valued at $1,092,000 after acquiring an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $522.30 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The firm’s fifty day simple moving average is $549.18 and its 200-day simple moving average is $518.54. The stock has a market cap of $231.59 billion, a PE ratio of 46.93, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. Adobe’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. Analysts expect that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADBE. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Adobe in a report on Friday, June 7th. Argus upgraded Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley reiterated an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a research note on Friday, September 13th. Barclays raised their target price on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Finally, TD Cowen reduced their price target on shares of Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insider Transactions at Adobe

In related news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value 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. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,579,186.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. The disclosure for this sale can be found here. Insiders sold 33,759 shares of company stock valued at $18,205,903 in the last 90 days. 0.15% of the stock is currently owned by insiders.

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.