Adobe Inc. (NASDAQ:ADBE) Holdings Lifted by J. Stern & Co. LLP

J. Stern & Co. LLP boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,175 shares of the software company’s stock after buying an additional 2,900 shares during the period. Adobe makes up about 5.2% of J. Stern & Co. LLP’s holdings, making the stock its 8th biggest position. J. Stern & Co. LLP’s holdings in Adobe were worth $43,429,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Harmony Asset Management LLC lifted its position in Adobe by 1.6% in the 2nd quarter. Harmony Asset Management LLC now owns 6,548 shares of the software company’s stock worth $3,638,000 after buying an additional 100 shares in the last quarter. HighVista Strategies LLC purchased a new position in shares of Adobe during the 2nd quarter valued at $1,722,000. Commonwealth Financial Services LLC increased its stake in shares of Adobe by 3.7% in the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after acquiring an additional 19 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of Adobe during the second quarter worth $1,318,000. Finally, Fidelis Capital Partners LLC boosted its position in Adobe by 3.6% during the second quarter. Fidelis Capital Partners LLC now owns 4,785 shares of the software company’s stock valued at $2,458,000 after purchasing an additional 168 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 97 shares of the business’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 sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Adobe news, CFO Daniel Durn sold 6,500 shares of Adobe 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 sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,501,989. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,759 shares of company stock worth $18,205,903. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Melius Research reaffirmed a “hold” rating and set a $510.00 price objective on shares of Adobe in a research report on Monday, June 10th. Citigroup lifted their target price on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. BMO Capital Markets increased their price target on shares of Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Finally, Evercore ISI restated an “outperform” rating and set a $650.00 price target on shares of Adobe in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Price Performance

NASDAQ:ADBE opened at $522.30 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a fifty day moving average price of $549.18 and a 200 day moving average price of $518.37. The stock has a market cap of $231.59 billion, a P/E ratio of 46.93, a PEG ratio of 3.03 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the business earned $3.26 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts anticipate that Adobe Inc. will post 14.69 earnings per share for the current year.

Adobe 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.