840 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 840 shares of the software company’s stock, valued at approximately $435,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. boosted its position in Adobe by 69.2% during the first quarter. Farmers & Merchants Investments Inc. now owns 621 shares of the software company’s stock valued at $313,000 after purchasing an additional 254 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in shares of Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Adobe by 8.0% during the first quarter. Valeo Financial Advisors LLC now owns 5,563 shares of the software company’s stock worth $2,807,000 after buying an additional 413 shares during the last quarter. Mainsail Financial Group LLC raised its position in Adobe by 2.3% during the first quarter. Mainsail Financial Group LLC now owns 2,149 shares of the software company’s stock worth $1,084,000 after acquiring an additional 49 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in Adobe by 7.0% in the first quarter. First Trust Direct Indexing L.P. now owns 9,457 shares of the software company’s stock valued at $4,772,000 after acquiring an additional 619 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.9 %

Shares of ADBE opened at $485.39 on Wednesday. The firm has a 50 day simple moving average of $526.85 and a two-hundred day simple moving average of $516.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a market cap of $215.22 billion, a P/E ratio of 43.61, a P/E/G ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.26 EPS. Research analysts forecast that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Insider Activity

In other Adobe 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 value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was 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 in the company, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,511 shares of company stock worth $17,408,530. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADBE. Citigroup boosted their price objective on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research report on Friday, September 13th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Argus raised Adobe to a “strong-buy” rating in a report on Monday, September 16th. Finally, Barclays upped their price objective on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

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.