Triodos Investment Management BV Trims Stake in Adobe Inc (NASDAQ:ADBE)

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Triodos Investment Management BV lowered its holdings in Adobe Inc (NASDAQ:ADBE) by 8.3% during the third quarter, Holdings Channel.com reports. The firm owned 48,760 shares of the software company’s stock after selling 4,390 shares during the period. Adobe makes up 3.4% of Triodos Investment Management BV’s holdings, making the stock its 14th biggest holding. Triodos Investment Management BV’s holdings in Adobe were worth $13,470,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ADBE. Marquette Asset Management LLC grew its stake in Adobe by 114.3% during the 2nd quarter. Marquette Asset Management LLC now owns 90 shares of the software company’s stock worth $27,000 after purchasing an additional 48 shares in the last quarter. JNBA Financial Advisors grew its stake in Adobe by 666.7% during the 2nd quarter. JNBA Financial Advisors now owns 92 shares of the software company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. Manchester Financial Inc. acquired a new position in Adobe during the 2nd quarter worth $28,000. JJJ Advisors Inc. acquired a new position in Adobe during the 3rd quarter worth $28,000. Finally, Hexavest Inc. grew its stake in Adobe by 58.2% during the 3rd quarter. Hexavest Inc. now owns 106 shares of the software company’s stock worth $29,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 86.60% of the company’s stock.

In other news, CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $274.34, for a total transaction of $823,020.00. Following the sale, the chief marketing officer now owns 52,398 shares in the company, valued at $14,374,867.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 9,000 shares of company stock worth $2,500,110 in the last 90 days. Insiders own 0.32% of the company’s stock.

Shares of ADBE stock traded up $1.69 during trading hours on Friday, reaching $292.46. 1,628,400 shares of the company’s stock were exchanged, compared to its average volume of 2,747,625. The company’s 50 day moving average is $275.11 and its two-hundred day moving average is $284.38. The company has a market cap of $140.04 billion, a P/E ratio of 52.70, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.74. Adobe Inc has a 1 year low of $204.95 and a 1 year high of $313.11.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.08. Adobe had a return on equity of 30.49% and a net margin of 26.10%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The business’s revenue was up 23.7% on a year-over-year basis. As a group, analysts predict that Adobe Inc will post 6.39 EPS for the current fiscal year.

Several research analysts recently commented on the company. ValuEngine cut Adobe from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Stephens set a $327.00 price objective on Adobe and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Stifel Nicolaus reaffirmed a “neutral” rating and set a $325.00 price objective on shares of Adobe in a research report on Wednesday, September 18th. Canaccord Genuity set a $320.00 price objective on Adobe and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, JMP Securities reaffirmed a “hold” rating on shares of Adobe in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $304.88.

Adobe Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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