Sather Financial Group Inc Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Sather Financial Group Inc increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,298 shares of the software company’s stock after purchasing an additional 889 shares during the period. Adobe makes up 3.5% of Sather Financial Group Inc’s investment portfolio, making the stock its 12th largest holding. Sather Financial Group Inc’s holdings in Adobe were worth $54,521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ADBE. Piscataqua Savings Bank grew its position in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares during the period. Summit Securities Group LLC bought a new stake in Adobe during the second quarter valued at approximately $33,000. Highline Wealth Partners LLC bought a new stake in Adobe during the third quarter valued at approximately $38,000. Lynx Investment Advisory bought a new stake in Adobe during the second quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC bought a new stake in Adobe during the second quarter valued at approximately $39,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Adobe stock opened at $503.37 on Friday. The company has a market cap of $221.58 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 2.74 and a beta of 1.30. The firm’s fifty day moving average is $509.79 and its 200 day moving average is $518.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.26 earnings per share. Sell-side analysts forecast that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADBE. Royal Bank of Canada restated an “outperform” rating and set a $610.00 target price on shares of Adobe in a research report on Tuesday, October 15th. UBS Group cut their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Oppenheimer reiterated an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $606.40.

Insider Activity

In other news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is currently owned by company insiders.

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.