Peddock Capital Advisors LLC Purchases 156 Shares of Adobe Inc. (NASDAQ:ADBE)

Peddock Capital Advisors LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 20.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 913 shares of the software company’s stock after acquiring an additional 156 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Adobe were worth $473,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ADBE. XML Financial LLC bought a new stake in Adobe during the 4th quarter valued at approximately $224,000. Nomura Holdings Inc. boosted its position in shares of Adobe by 222.4% in the 4th quarter. Nomura Holdings Inc. now owns 13,328 shares of the software company’s stock worth $7,951,000 after purchasing an additional 9,194 shares in the last quarter. Visionary Wealth Advisors boosted its position in shares of Adobe by 1.0% in the 4th quarter. Visionary Wealth Advisors now owns 1,962 shares of the software company’s stock worth $1,171,000 after purchasing an additional 20 shares in the last quarter. Ethic Inc. boosted its position in shares of Adobe by 6.6% in the 4th quarter. Ethic Inc. now owns 39,128 shares of the software company’s stock worth $23,344,000 after purchasing an additional 2,438 shares in the last quarter. Finally, Putnam Investments LLC boosted its position in shares of Adobe by 41.2% in the 4th quarter. Putnam Investments LLC now owns 1,053,424 shares of the software company’s stock worth $628,473,000 after purchasing an additional 307,479 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

Shares of Adobe stock traded down $3.71 during trading on Wednesday, reaching $492.53. 566,880 shares of the stock traded hands, compared to its average volume of 3,220,892. The company has a market capitalization of $218.39 billion, a price-to-earnings ratio of 44.59, a P/E/G ratio of 2.72 and a beta of 1.29. The business has a fifty day simple moving average of $539.91 and a two-hundred day simple moving average of $516.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick 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 released its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $3.26 earnings per share. Sell-side analysts expect that Adobe Inc. will post 14.79 EPS for the current year.

Insider Buying and Selling

In related news, 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 value of $13,039,500.00. Following the completion of the transaction, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,759 shares of company stock worth $17,642,653. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ADBE shares. Wells Fargo & Company boosted their price target on Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Robert W. Baird boosted 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. Oppenheimer reissued an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price target on shares of Adobe in a research report on Friday, September 13th. Finally, Morgan Stanley restated an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a report on Friday, September 13th. Two 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 stock. Based on data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus price target 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.