Longview Partners Guernsey LTD Buys Shares of 1,194,775 Adobe Inc. (NASDAQ:ADBE)

Longview Partners Guernsey LTD bought a new stake in Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,194,775 shares of the software company’s stock, valued at approximately $663,745,000. Adobe comprises approximately 4.9% of Longview Partners Guernsey LTD’s holdings, making the stock its 2nd biggest holding. Longview Partners Guernsey LTD owned about 0.27% of Adobe at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADBE. Westwood Holdings Group Inc. increased its stake in Adobe by 26.5% during the second quarter. Westwood Holdings Group Inc. now owns 9,287 shares of the software company’s stock worth $5,159,000 after purchasing an additional 1,948 shares during the period. Bulltick Wealth Management LLC increased its stake in Adobe by 12.5% during the second quarter. Bulltick Wealth Management LLC now owns 23,492 shares of the software company’s stock worth $13,051,000 after purchasing an additional 2,607 shares during the period. Sompo Asset Management Co. Ltd. increased its stake in Adobe by 4.7% during the second quarter. Sompo Asset Management Co. Ltd. now owns 26,496 shares of the software company’s stock worth $14,720,000 after purchasing an additional 1,192 shares during the period. Nkcfo LLC increased its stake in Adobe by 16.0% during the second quarter. Nkcfo LLC now owns 2,900 shares of the software company’s stock worth $1,611,000 after purchasing an additional 400 shares during the period. Finally, Transatlantique Private Wealth LLC increased its stake in Adobe by 139.1% during the second quarter. Transatlantique Private Wealth LLC now owns 1,633 shares of the software company’s stock worth $901,000 after purchasing an additional 950 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent research reports. Melius lowered shares of Adobe from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Monday, June 10th. Mizuho restated a “buy” rating and set a $640.00 target price (down from $680.00) on shares of Adobe in a research note on Friday, June 7th. Morgan Stanley restated an “overweight” rating and set a $660.00 target price on shares of Adobe in a research note on Friday, September 13th. Bank of America restated a “buy” rating and set a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $606.40.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction 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 owns 20,838 shares in the company, valued at $10,740,738.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Adobe news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction 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 owns 20,838 shares in the company, valued at $10,740,738.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of the stock in a transaction 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 owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. The disclosure for this sale can be found here. Insiders sold a total of 33,759 shares of company stock valued at $18,205,903 over the last three months. 0.15% of the stock is currently owned by company insiders.

Adobe Price Performance

ADBE stock opened at $522.30 on Friday. The company has a market capitalization of $231.59 billion, a P/E ratio of 46.93, a PEG ratio of 3.03 and a beta of 1.29. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The business has a 50 day simple moving average of $549.18 and a 200-day simple moving average of $518.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28.

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