2 weeks Ago By ABMN Staff
Annandale Capital LLC boosted its stake in shares of Adobe Inc. ( NASDAQ:ADBE – Free Report ) by 10.5% in the 2nd quarter, HoldingsChannel reports.
The institutional investor owned 5,276 shares of the software company’s stock after acquiring an additional 500 shares during the quarter. Annandale Capital LLC’s holdings in Adobe were worth $2,931,000 at the end of the most recent quarter. Several other hedge funds also recently bought and sold shares of ADBE.
Wellington Management Group LLP boosted its stake in Adobe by 1,213.5% during the fourth quarter. Wellington Management Group LLP now owns 2,024,438 shares of the software company’s stock worth $1,207,780,000 after buying an additional 1,870,307 shares during the period.
Swedbank AB purchased a new position in Adobe during the first quarter worth about $621,179,000. Longview Partners Guernsey LTD purchased a new position in Adobe during the second quarter worth about $663,745,000. Price T Rowe Associates Inc.
MD boosted its stake in 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 buying an additional 1,146,718 shares during the period. Finally, BlueSpruce Investments LP boosted its stake in Adobe by 81.1% during the first quarter.
BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock worth $648,712,000 after buying an additional 575,675 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.
Adobe Stock Up 0.0 % ADBE stock opened at $515.48 on Friday.
The company has a current ratio of 1.11, a quick ratio of 1.16 and a debt-to-equity ratio of 0.
28. Adobe Inc. has a twelve month low of $433.
97 and a twelve month high of $638.25. The company’s 50 day moving average is $545.
13 and its two-hundred day moving average is $517.22. The stock has a market cap of $228.
56 billion, a P/E ratio of 46.31, a PEG ratio of 2.72 and a beta of 1.
29. Wall Street Analyst Weigh In ADBE has been the subject of several research analyst reports. UBS Group lowered their target price on shares of Adobe from $560.
00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co.
raised shares of Adobe from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $570.00 to $580.00 in a research note on Friday, June 14th.
Mizuho reissued a “buy” rating and issued a $640.00 price objective (down previously from $680.00) on shares of Adobe in a research note on Friday, June 7th.
TD Cowen lowered their price objective on shares of Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research note on Monday, June 10th.
Finally, Robert W. Baird raised their price objective on shares of Adobe from $525.00 to $545.
00 and gave the company a “neutral” rating in a research note on Friday, June 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.
com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $606.40. Read Our Latest Research Report on Adobe Insiders Place Their Bets In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 357,700 shares in the company, valued at $186,569,166. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink . In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 357,700 shares in the company, valued at $186,569,166. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink . Also, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction that occurred on Monday, July 15th.
The stock was sold at an average price of $560.23, for a total transaction of $857,151.90.
Following the transaction, the executive vice president now owns 20,359 shares in the company, valued at $11,405,722.57. The disclosure for this sale can be found here .
Over the last quarter, insiders have sold 33,759 shares of company stock valued at $17,642,653. 0.15% of the stock is owned by corporate insiders.
Adobe Company Profile ( Free Report ) 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.
Featured Articles Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. ( NASDAQ:ADBE – Free Report ).
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