OneDigital Investment Advisors LLC Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

OneDigital Investment Advisors LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,002 shares of the software company’s stock after acquiring an additional 104 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Adobe were worth $3,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Adobe by 17.6% in 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 buying an additional 1,146,718 shares during the period. Principal Financial Group Inc. increased its position in shares of Adobe by 0.6% in the second quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock valued at $1,097,475,000 after acquiring an additional 12,065 shares during the period. Clearbridge Investments LLC raised its stake in shares of Adobe by 0.8% during the second quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock valued at $1,097,044,000 after acquiring an additional 15,685 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Adobe by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock worth $945,780,000 after purchasing an additional 185,737 shares during the period. Finally, International Assets Investment Management LLC grew its stake 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 worth $713,703,000 after purchasing an additional 1,376,333 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

ADBE stock opened at $503.37 on Friday. The stock’s 50 day simple moving average is $509.79 and its 200 day simple moving average is $517.96. 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 Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The stock has a market capitalization of $221.58 billion, a PE ratio of 42.51, a price-to-earnings-growth ratio of 2.74 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results 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. 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 prior year, the company posted $3.26 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent analyst reports. Barclays upped their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Citigroup lifted their price target on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Piper Sandler restated an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a report on Friday, September 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $660.00 target price on shares of Adobe in a research note on Friday, September 13th. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Activity

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This trade represents a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value 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. This represents a 23.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock valued at $17,736,369 in the last 90 days. 0.15% of the stock is currently owned by insiders.

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.