Folger Nolan Fleming Douglas Capital Management Inc. Sells 24 Shares of Adobe Inc. (NASDAQ:ADBE)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,793 shares of the software company’s stock after selling 24 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Adobe were worth $7,660,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADBE. International Assets Investment Management LLC raised its position in shares of Adobe by 66,909.7% in the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after purchasing an additional 1,376,333 shares during the period. Swedbank AB bought a new stake in Adobe during the 1st quarter valued at $621,179,000. Longview Partners Guernsey LTD purchased a new stake in shares of Adobe during the second quarter worth $663,745,000. Price T Rowe Associates Inc. MD lifted its position in shares of Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after acquiring an additional 1,146,718 shares in the last quarter. Finally, BlueSpruce Investments LP boosted its holdings in shares of Adobe by 81.1% in the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock worth $648,712,000 after acquiring an additional 575,675 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the sale, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated 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 $186,569,166. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,511 shares of company stock worth $17,408,530. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Up 0.3 %

Shares of Adobe stock opened at $486.68 on Thursday. The company’s 50 day moving average price is $525.27 and its 200-day moving average price is $515.81. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $215.79 billion, a price-to-earnings ratio of 43.73, a P/E/G ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.26 earnings per share. Equities research analysts forecast that Adobe Inc. will post 14.8 EPS for the current year.

Analyst Ratings Changes

ADBE has been the topic of a number of recent research reports. Bank of America reissued a “buy” rating and set a $640.00 price objective on shares of Adobe in a 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 report on Tuesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. Stifel Nicolaus upped their target price on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

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.