Adobe Inc. (NASDAQ:ADBE) Stock Holdings Reduced by IFM Investors Pty Ltd

IFM Investors Pty Ltd lowered its position in Adobe Inc. (NASDAQ:ADBE) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,563 shares of the software company’s stock after selling 426 shares during the quarter. IFM Investors Pty Ltd’s holdings in Adobe were worth $48,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADBE. GAMMA Investing LLC boosted its stake in shares of Adobe by 28.0% during the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after acquiring an additional 1,412 shares in the last quarter. Anchor Investment Management LLC boosted its stake in Adobe by 9.8% during the 2nd quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock valued at $8,892,000 after purchasing an additional 1,430 shares during the period. Choreo LLC boosted its stake in Adobe by 4.7% during the 1st quarter. Choreo LLC now owns 4,431 shares of the software company’s stock valued at $2,236,000 after purchasing an additional 197 shares during the period. Fairscale Capital LLC bought a new stake in Adobe during the 2nd quarter valued at approximately $1,318,000. Finally, Daymark Wealth Partners LLC boosted its stake in Adobe by 89.8% during the 2nd quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock valued at $5,065,000 after purchasing an additional 4,315 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 1,530 shares of the firm’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 sale, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction dated Tuesday, October 15th. The shares were 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 in the company, valued at $9,675,744.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,030 shares of company stock valued at $17,176,005. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on ADBE shares. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. 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. Stifel Nicolaus upped their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Barclays upped their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $610.00 price target on shares of Adobe in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Trading Down 0.4 %

Shares of NASDAQ:ADBE traded down $1.95 during midday trading on Thursday, hitting $483.08. The company had a trading volume of 1,063,075 shares, compared to its average volume of 3,188,801. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market cap of $214.20 billion, a price-to-earnings ratio of 43.40, a PEG ratio of 2.55 and a beta of 1.29. The firm has a fifty day simple moving average of $532.85 and a 200 day simple moving average of $515.83.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (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 analyst estimates of $5.37 billion. During the same period last year, the company earned $3.26 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. On average, analysts predict that Adobe Inc. will post 14.8 EPS for the current year.

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.