1 week Ago By ABMN Staff
Great Lakes Advisors LLC reduced its holdings in Adobe Inc. ( NASDAQ:ADBE – Free Report ) by 60.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).
The fund owned 12,788 shares of the software company’s stock after selling 19,376 shares during the period. Great Lakes Advisors LLC’s holdings in Adobe were worth $7,104,000 at the end of the most recent quarter. Other hedge funds and other institutional investors have also recently made changes to their positions in the company.
International Assets Investment Management LLC acquired a new stake in shares of Adobe during the 4th quarter worth approximately $1,468,000. Concentrum Wealth Management increased its holdings in Adobe by 11.3% in the fourth quarter.
Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock valued at $1,435,194,000 after buying an additional 244,008 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of Adobe by 5.9% in the fourth quarter.
Aveo Capital Partners LLC now owns 932 shares of the software company’s stock worth $556,000 after acquiring an additional 52 shares during the period. Gryphon Financial Partners LLC boosted its stake in shares of Adobe by 22.7% during the 4th quarter.
Gryphon Financial Partners LLC now owns 3,561 shares of the software company’s stock worth $2,066,000 after acquiring an additional 658 shares in the last quarter. Finally, AGF Management Ltd. grew its position in shares of Adobe by 0.
4% during the 4th quarter. AGF Management Ltd. now owns 8,182 shares of the software company’s stock valued at $4,881,000 after acquiring an additional 34 shares during the period.
Institutional investors and hedge funds own 81.79% of the company’s stock. Adobe Stock Down 0.
8 % Shares of NASDAQ ADBE opened at $563.41 on Monday. The company has a market capitalization of $249.
82 billion, a P/E ratio of 50.62, a P/E/G ratio of 3.00 and a beta of 1.
29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.
16 and a quick ratio of 1.16. The company has a 50 day simple moving average of $553.
72 and a 200-day simple moving average of $519.08. Adobe Inc.
has a 1 year low of $433.97 and a 1 year high of $638.25.
Analysts Set New Price Targets A number of research firms recently weighed in on ADBE. Melius Research reaffirmed a “hold” rating and issued a $510.00 price target on shares of Adobe in a report on Monday, June 10th.
BMO Capital Markets increased their target price on Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research report on Friday, June 14th.
JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, June 14th. Mizuho reaffirmed a “buy” rating and set a $640.00 price objective (down from $680.
00) on shares of Adobe in a report on Friday, June 7th. Finally, Wells Fargo & Company boosted their target price on shares of Adobe from $675.00 to $700.
00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $605.
52. Read Our Latest Research Report on ADBE Insider Buying and Selling at Adobe In other Adobe news, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction dated 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 in the company, valued at $1,579,186.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink .
In related news, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $564.
60, for a total value of $85,254.60. Following the completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,579,186.
20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Also, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction on Monday, July 15th.
The stock was sold at an average price of $560.23, for a total value 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 .
Insiders have sold 27,523 shares of company stock valued at $14,994,277 over the last 90 days. 0.15% of the stock is owned by insiders.
Adobe 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 ).
Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter ..
