Adobe Inc. (NASDAQ:ADBE) Stake Raised by Westwind Capital

Westwind Capital grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 5,874.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,044 shares of the software company’s stock after acquiring an additional 36,424 shares during the period. Adobe comprises approximately 4.7% of Westwind Capital’s portfolio, making the stock its 9th largest position. Westwind Capital’s holdings in Adobe were worth $19,181,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ADBE. Biltmore Family Office LLC lifted its position in shares of Adobe by 7.6% during the 4th quarter. Biltmore Family Office LLC now owns 752 shares of the software company’s stock worth $449,000 after purchasing an additional 53 shares during the last quarter. Barden Capital Management Inc. boosted its position in shares of Adobe by 14.4% during the 4th quarter. Barden Capital Management Inc. now owns 7,285 shares of the software company’s stock worth $4,346,000 after acquiring an additional 918 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Adobe by 1.5% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 194,802 shares of the software company’s stock valued at $116,219,000 after acquiring an additional 2,919 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Adobe by 5,381.5% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 296,000 shares of the software company’s stock worth $176,594,000 after acquiring an additional 290,600 shares in the last quarter. Finally, Harbert Fund Advisors Inc. purchased a new stake in Adobe during the fourth quarter worth approximately $1,044,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $503.57 on Friday. The stock has a market capitalization of $221.67 billion, a price-to-earnings ratio of 42.53, a PEG ratio of 2.55 and a beta of 1.29. The business’s 50 day moving average is $537.90 and its two-hundred day moving average is $515.83. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the business earned $3.26 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts expect that Adobe Inc. will post 14.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ADBE shares. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 13th. KeyCorp boosted their price target on shares of Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a research report on Friday, June 14th. Bank of America reaffirmed a “buy” rating and set a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. JPMorgan Chase & Co. upgraded Adobe from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $570.00 to $580.00 in a research report on Friday, June 14th. Finally, Sanford C. Bernstein decreased their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Activity at Adobe

In related news, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction that occurred 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 directly owns 2,797 shares of the company’s stock, valued at $1,501,989. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the sale, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,501,989. This 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 accessible through the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,759 shares of company stock worth $17,642,653 over the last 90 days. Company insiders own 0.15% of the company’s stock.

Adobe Company 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.