Blair William & Co. IL Acquires 556 Shares of Adobe Inc. (NASDAQ:ADBE)

Blair William & Co. IL boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 677,819 shares of the software company’s stock after acquiring an additional 556 shares during the period. Adobe accounts for approximately 1.2% of Blair William & Co. IL’s holdings, making the stock its 16th biggest holding. Blair William & Co. IL owned 0.15% of Adobe worth $376,555,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Steph & Co. boosted its stake in shares of Adobe by 63.8% during 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 in the last quarter. International Assets Investment Management LLC lifted its holdings in Adobe by 16.2% in the first quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock worth $1,435,000 after buying an additional 398 shares during the period. Choreo LLC lifted its holdings in Adobe by 4.7% in the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock worth $2,236,000 after buying an additional 197 shares during the period. Eagle Asset Management Inc. boosted its position in Adobe by 14.7% during the 4th quarter. Eagle Asset Management Inc. now owns 24,400 shares of the software company’s stock valued at $14,557,000 after acquiring an additional 3,120 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Adobe by 23.3% during the 2nd quarter. Quest Partners LLC now owns 588 shares of the software company’s stock worth $327,000 after acquiring an additional 111 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was 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 directly 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 is available at the SEC website. In other Adobe news, CAO Mark S. Garfield sold 151 shares of the company’s 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 directly owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction on 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 transaction, the chief executive officer now owns 379,660 shares in the company, valued at approximately $206,576,802.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,259 shares of company stock worth $14,855,543. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stifel Nicolaus raised their target price on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Robert W. Baird raised their price objective on Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. UBS Group reduced their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. KeyCorp increased their price target on shares of Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a research note on Friday, June 14th. Finally, JMP Securities reissued 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 given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $606.58.

Adobe Stock Performance

Shares of ADBE stock opened at $515.03 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average price of $551.66 and a 200-day moving average price of $519.07. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The firm has a market capitalization of $228.36 billion, a PE ratio of 46.27, a P/E/G ratio of 3.03 and a beta of 1.29.

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

About Adobe

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.