Catalina Capital Group LLC Grows Stake in Adobe Inc. (NASDAQ:ADBE)

Catalina Capital Group LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 15.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,389 shares of the software company’s stock after acquiring an additional 190 shares during the period. Catalina Capital Group LLC’s holdings in Adobe were worth $719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADBE. GAMMA Investing LLC lifted its position in shares of Adobe by 28.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after buying an additional 1,412 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in shares of Adobe by 9.8% in the 2nd quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock worth $8,892,000 after purchasing an additional 1,430 shares during the last quarter. Fairscale Capital LLC bought a new position in Adobe during the 2nd quarter worth $1,318,000. Daymark Wealth Partners LLC increased its position in Adobe by 89.8% in the second quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock worth $5,065,000 after buying an additional 4,315 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in 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 buying an additional 15,685 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at $9,675,744.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,187 shares of company stock valued at $17,736,369. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of several research reports. Citigroup upped their price target on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Barclays upped their price objective on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Morgan Stanley restated an “overweight” rating and set a $660.00 price target on shares of Adobe in a report on Friday, September 13th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Performance

Shares of Adobe stock opened at $486.42 on Wednesday. The stock has a market cap of $214.12 billion, a price-to-earnings ratio of 41.08, a P/E/G ratio of 2.49 and a beta of 1.30. 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 twelve month low of $433.97 and a twelve month high of $638.25. The company’s fifty day moving average is $518.98 and its 200 day moving average is $516.41.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.26 earnings per share. Sell-side analysts forecast that Adobe Inc. will post 14.82 EPS for the current year.

About Adobe

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.