Mackenzie Financial Corp Has $37.26 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Mackenzie Financial Corp raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,062 shares of the software company’s stock after acquiring an additional 451 shares during the period. Mackenzie Financial Corp’s holdings in Adobe were worth $37,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Steph & Co. grew its position in shares of Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after purchasing an additional 30 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Adobe by 16.2% in the first quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock valued at $1,435,000 after buying an additional 398 shares during the period. Choreo LLC increased its position in shares of Adobe by 4.7% during the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock worth $2,236,000 after acquiring an additional 197 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Adobe during the second quarter worth $1,318,000. Finally, Daymark Wealth Partners LLC lifted its position in Adobe by 89.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock valued at $5,065,000 after acquiring an additional 4,315 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ADBE. Royal Bank of Canada reiterated an “outperform” rating and set a $610.00 target price on shares of Adobe in a report on Friday, September 13th. Melius lowered Adobe from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Monday, June 10th. Robert W. Baird upped their price target on Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. Mizuho reiterated a “buy” rating and issued a $640.00 price objective (down from $680.00) on shares of Adobe in a report on Friday, June 7th. Finally, Evercore ISI restated an “outperform” rating and set a $650.00 target price on shares of Adobe in a 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insider Buying and Selling

In other Adobe 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 approximately $186,569,166. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the 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. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction that occurred on 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 of the company’s stock, valued at $1,579,186.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,759 shares of company stock valued at $17,642,653. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $515.48 on Friday. The company’s 50-day moving average is $545.13 and its 200-day moving average is $517.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.16. The firm has a market capitalization of $228.56 billion, a PE ratio of 46.31, a PEG ratio of 2.72 and a beta of 1.29. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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. Adobe had a net margin of 25.59% and a return on equity of 42.82%. 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 business posted $3.26 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts forecast that Adobe Inc. will post 14.79 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.