Adobe Inc. (NASDAQ:ADBE) Position Increased by Stifel Financial Corp

Stifel Financial Corp increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 762,551 shares of the software company’s stock after acquiring an additional 14,962 shares during the period. Stifel Financial Corp’s holdings in Adobe were worth $394,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its holdings in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Adobe by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after acquiring an additional 93,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Adobe by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock valued at $2,455,079,000 after acquiring an additional 140,390 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Adobe by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,716,451 shares of the software company’s stock worth $1,406,524,000 after buying an additional 21,444 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Adobe by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock worth $1,097,475,000 after buying an additional 12,065 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock worth $17,736,369 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADBE. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Citigroup increased their price target on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Bank of America restated a “buy” rating and set a $640.00 price target on shares of Adobe in a research report on Friday, September 13th. UBS Group decreased their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Finally, Stifel Nicolaus increased their price target on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $601.25.

Adobe Stock Performance

ADBE opened at $536.49 on Thursday. The company has a market capitalization of $236.16 billion, a price-to-earnings ratio of 45.31, a P/E/G ratio of 2.35 and a beta of 1.29. The business’s 50-day moving average price is $502.99 and its two-hundred day moving average price is $521.07. 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 1 year low of $433.97 and a 1 year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating the consensus estimate 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 for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.26 EPS. Equities analysts expect that Adobe Inc. will post 14.82 EPS for the current fiscal 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.