Diversified Trust Co Increases Stake in Adobe Inc. (NASDAQ:ADBE)

Diversified Trust Co lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 10.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,446 shares of the software company’s stock after buying an additional 630 shares during the quarter. Diversified Trust Co’s holdings in Adobe were worth $3,338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Onyx Bridge Wealth Group LLC grew its position in shares of Adobe by 3.9% during the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after purchasing an additional 19 shares in the last quarter. HTLF Bank increased its stake in Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after acquiring an additional 19 shares during the last quarter. Commonwealth Financial Services LLC raised its holdings in shares of Adobe by 3.7% during the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after acquiring an additional 19 shares in the last quarter. Visionary Wealth Advisors boosted its position in shares of Adobe by 1.0% during the 4th quarter. Visionary Wealth Advisors now owns 1,962 shares of the software company’s stock valued at $1,171,000 after acquiring an additional 20 shares during the last quarter. Finally, Orrstown Financial Services Inc. grew its holdings in shares of Adobe by 0.9% in the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of Adobe from $675.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Argus raised Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Sanford C. Bernstein lowered their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Finally, Citigroup increased 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Performance

ADBE stock opened at $487.30 on Tuesday. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The firm has a market cap of $216.07 billion, a price-to-earnings ratio of 43.78, a PEG ratio of 2.72 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 1.11. The firm has a 50-day simple moving average of $541.74 and a two-hundred day simple moving average of $516.26.

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

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 shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,759 shares of company stock worth $17,642,653 in the last three months. Corporate insiders own 0.15% of the company’s stock.

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.