Adobe Inc. (NASDAQ:ADBE) Holdings Decreased by Hartline Investment Corp

Hartline Investment Corp reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 0.5% in the 3rd quarter, Holdings Channel reports. The fund owned 8,808 shares of the software company’s stock after selling 48 shares during the period. Hartline Investment Corp’s holdings in Adobe were worth $4,561,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Adobe by 1.0% during the first quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock worth $20,511,473,000 after acquiring an additional 382,803 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Adobe by 17.6% during the 1st 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 purchasing an additional 1,146,718 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Adobe by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock valued at $1,097,475,000 after buying an additional 12,065 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Adobe by 0.8% in the 2nd 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. Finally, Dimensional Fund Advisors LP increased its holdings in Adobe by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock worth $945,780,000 after buying an additional 185,737 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 4.3 %

Shares of ADBE stock opened at $526.42 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $231.73 billion, a P/E ratio of 44.46, a P/E/G ratio of 2.60 and a beta of 1.30. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The firm has a 50-day moving average price of $512.61 and a 200 day moving average price of $517.56.

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

Insider Activity

In related news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. 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. In related news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup boosted their target price on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 target price on shares of Adobe in a research report on Tuesday, October 15th. Sanford C. Bernstein reduced their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Stifel Nicolaus increased their price objective on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Adobe 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.