Xponance Inc. Buys 1,409 Shares of Adobe Inc. (NASDAQ:ADBE)

Xponance Inc. boosted its position in Adobe Inc. (NASDAQ:ADBE) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,895 shares of the software company’s stock after purchasing an additional 1,409 shares during the period. Adobe comprises approximately 0.6% of Xponance Inc.’s portfolio, making the stock its 22nd biggest holding. Xponance Inc.’s holdings in Adobe were worth $60,496,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Adobe during the 2nd quarter valued at approximately $5,501,000. Magnetar Financial LLC purchased a new stake in shares of Adobe during the second quarter worth $597,000. Public Sector Pension Investment Board boosted its stake in Adobe by 71.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 17,222 shares of the software company’s stock worth $9,568,000 after purchasing an additional 7,155 shares during the period. J. Stern & Co. LLP boosted its position in shares of Adobe by 3.9% in the second quarter. J. Stern & Co. LLP now owns 78,175 shares of the software company’s stock valued at $43,429,000 after acquiring an additional 2,900 shares during the period. Finally, Harmony Asset Management LLC grew its stake in Adobe by 1.6% during the second quarter. Harmony Asset Management LLC now owns 6,548 shares of the software company’s stock valued at $3,638,000 after acquiring an additional 100 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ADBE shares. Barclays boosted their price target on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $610.00 price target on shares of Adobe in a report on Friday, September 13th. KeyCorp boosted their price objective on Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a report on Friday, June 14th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Finally, Mizuho reiterated a “buy” rating and set a $640.00 target price (down from $680.00) on shares of Adobe in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction on 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 owns 20,838 shares in the company, valued at $10,740,738.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe 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 $258,297.00. Following the sale, the executive vice president now directly owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The disclosure for this sale can be found here. Insiders sold a total of 33,759 shares of company stock worth $18,205,903 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Adobe Stock Down 0.8 %

Shares of Adobe stock opened at $522.30 on Monday. The stock has a market capitalization of $231.59 billion, a price-to-earnings ratio of 46.93, a P/E/G ratio of 3.03 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16. The company’s 50 day moving average price is $549.18 and its 200-day moving average price is $518.37. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations 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 firm earned $3.26 earnings per share. Equities research analysts forecast that Adobe Inc. will post 14.69 EPS for the current year.

About Adobe

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.