Unique Wealth LLC Acquires 512 Shares of Adobe Inc. (NASDAQ:ADBE)

Unique Wealth LLC grew its stake in Adobe Inc. (NASDAQ:ADBE) by 17.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,526 shares of the software company’s stock after purchasing an additional 512 shares during the quarter. Unique Wealth LLC’s holdings in Adobe were worth $1,826,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Steph & Co. grew its position in shares of Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after buying an additional 30 shares during the period. International Assets Investment Management LLC boosted its stake in Adobe by 16.2% during the 1st quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock worth $1,435,000 after acquiring an additional 398 shares during the last quarter. Choreo LLC grew its holdings in Adobe by 4.7% during the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock valued at $2,236,000 after purchasing an additional 197 shares during the period. Fairscale Capital LLC bought a new stake in Adobe in the second quarter valued at approximately $1,318,000. Finally, Anchor Investment Management LLC raised its holdings in Adobe by 9.8% in the second quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock worth $8,892,000 after purchasing an additional 1,430 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,579,186.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,759 shares of company stock worth $17,642,653. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of several research analyst reports. JPMorgan Chase & Co. raised shares of Adobe from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $570.00 to $580.00 in a report on Friday, June 14th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Morgan Stanley restated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Wells Fargo & Company lifted their price objective on Adobe from $675.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Finally, Mizuho reiterated a “buy” rating and issued a $640.00 price objective (down from $680.00) on shares of Adobe in a research report on Friday, June 7th. Two 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Trading Down 0.4 %

NASDAQ ADBE opened at $503.80 on Friday. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $542.45 and a 200-day moving average of $516.36. The company has a market cap of $223.38 billion, a PE ratio of 45.27, a PEG ratio of 2.72 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.26 earnings per share. On average, equities research analysts anticipate that Adobe Inc. will post 14.79 EPS for the current fiscal 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.