Pacer Advisors Inc. Has $37.58 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Pacer Advisors Inc. increased its position in Adobe Inc. (NASDAQ:ADBE) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,645 shares of the software company’s stock after purchasing an additional 3,355 shares during the quarter. Pacer Advisors Inc.’s holdings in Adobe were worth $37,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tradewinds Capital Management LLC raised its position in shares of Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe during the 2nd quarter valued at $33,000. Lynx Investment Advisory acquired a new stake in shares of Adobe during the 2nd quarter worth $39,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Adobe in the second quarter worth $39,000. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the transaction, the chief executive officer now owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the completion of the transaction, the chief executive officer now owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. 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 in the last three months. Company insiders own 0.15% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $522.30 on Friday. The business’s fifty day moving average is $549.18 and its 200 day moving average is $518.54. The firm has a market cap of $231.59 billion, a price-to-earnings ratio of 46.93, a PEG 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. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the business posted $3.26 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Research analysts predict that Adobe Inc. will post 14.69 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Adobe from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $570.00 to $580.00 in a report on Friday, June 14th. Citigroup raised their target price on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Evercore ISI reissued an “outperform” rating and set a $650.00 price target on shares of Adobe in a report on Friday, June 7th. UBS Group reduced their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, Oppenheimer reissued an “outperform” rating and set a $625.00 target price on shares of Adobe in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $606.40.

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.