Alexandria Capital LLC trimmed its position in shares of Adobe Inc (NASDAQ:ADBE) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,634 shares of the software company’s stock after selling 320 shares during the period. Adobe accounts for approximately 5.4% of Alexandria Capital LLC’s holdings, making the stock its biggest position. Alexandria Capital LLC’s holdings in Adobe were worth $37,607,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Adobe by 0.7% during the first quarter. BlackRock Inc. now owns 32,843,461 shares of the software company’s stock valued at $8,752,453,000 after purchasing an additional 213,902 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Adobe by 0.8% during the second quarter. Janus Henderson Group PLC now owns 8,017,961 shares of the software company’s stock valued at $2,362,476,000 after acquiring an additional 60,035 shares during the period. Northern Trust Corp raised its holdings in shares of Adobe by 1.2% during the first quarter. Northern Trust Corp now owns 6,156,195 shares of the software company’s stock valued at $1,640,565,000 after acquiring an additional 72,473 shares during the period. Edgewood Management LLC raised its holdings in shares of Adobe by 1.0% during the second quarter. Edgewood Management LLC now owns 4,669,420 shares of the software company’s stock valued at $1,375,845,000 after acquiring an additional 46,748 shares during the period. Finally, Polen Capital Management LLC raised its holdings in shares of Adobe by 3.0% during the second quarter. Polen Capital Management LLC now owns 4,611,589 shares of the software company’s stock valued at $1,358,805,000 after acquiring an additional 135,526 shares during the period. 86.53% of the stock is owned by hedge funds and other institutional investors.
In other Adobe news, Director John E. Warnock sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $296.94, for a total transaction of $1,187,760.00. Following the completion of the transaction, the director now owns 16,088 shares of the company’s stock, valued at $4,777,170.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles M. Geschke sold 13,795 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $289.96, for a total value of $3,999,998.20. The disclosure for this sale can be found here. Insiders have sold 29,627 shares of company stock valued at $8,697,224 in the last ninety days. 0.32% of the stock is currently owned by company insiders.
Shares of NASDAQ ADBE traded up $1.94 during mid-day trading on Friday, hitting $279.96. The company’s stock had a trading volume of 389,832 shares, compared to its average volume of 2,153,849. The company’s fifty day simple moving average is $290.27 and its 200-day simple moving average is $281.10. Adobe Inc has a one year low of $204.95 and a one year high of $313.11. The stock has a market cap of $134.05 billion, a price-to-earnings ratio of 50.44, a price-to-earnings-growth ratio of 2.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.70 and a quick ratio of 0.70.
Adobe (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 18th. The software company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.78 by $0.05. Adobe had a net margin of 26.25% and a return on equity of 29.96%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the company posted $1.66 EPS. The business’s quarterly revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts predict that Adobe Inc will post 6.3 EPS for the current year.
ADBE has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Adobe from $284.00 to $329.00 and gave the company a “neutral” rating in a research note on Wednesday, June 19th. Wells Fargo & Co reiterated a “hold” rating and issued a $275.00 price objective (up previously from $250.00) on shares of Adobe in a research note on Wednesday, June 19th. Canaccord Genuity boosted their target price on shares of Adobe from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 19th. Finally, BMO Capital Markets boosted their target price on shares of Adobe from $300.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Adobe has a consensus rating of “Buy” and a consensus target price of $301.69.
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.
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