Adobe Inc (ADBE) Shares Sold by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. decreased its position in shares of Adobe Inc (NASDAQ:ADBE) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,167 shares of the software company’s stock after selling 250 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Adobe were worth $1,395,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Greenleaf Trust lifted its stake in Adobe by 9.5% in the 3rd quarter. Greenleaf Trust now owns 4,100 shares of the software company’s stock valued at $1,107,000 after buying an additional 355 shares in the last quarter. SG Americas Securities LLC lifted its stake in Adobe by 76.9% in the 3rd quarter. SG Americas Securities LLC now owns 87,663 shares of the software company’s stock valued at $23,665,000 after buying an additional 38,095 shares in the last quarter. Iberiabank Corp lifted its stake in Adobe by 32.5% in the 3rd quarter. Iberiabank Corp now owns 20,238 shares of the software company’s stock valued at $5,463,000 after buying an additional 4,959 shares in the last quarter. Sunesis Advisors LLC purchased a new stake in Adobe in the 3rd quarter valued at approximately $204,000. Finally, Moneta Group Investment Advisors LLC purchased a new stake in Adobe in the 2nd quarter valued at approximately $546,000. 85.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of ADBE stock traded up $3.03 on Monday, reaching $253.92. 35,507 shares of the stock were exchanged, compared to its average volume of 3,692,337. The company has a market cap of $122.47 billion, a price-to-earnings ratio of 72.24, a PEG ratio of 2.70 and a beta of 1.14. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. Adobe Inc has a 1-year low of $165.68 and a 1-year high of $277.61.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Adobe had a return on equity of 29.51% and a net margin of 28.16%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 EPS. As a group, analysts expect that Adobe Inc will post 5.66 earnings per share for the current fiscal year.

In related news, EVP Bradley Rencher sold 12,000 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $245.30, for a total transaction of $2,943,600.00. Following the completion of the sale, the executive vice president now directly owns 68,071 shares of the company’s stock, valued at approximately $16,697,816.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Lewnes sold 2,955 shares of the company’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $225.38, for a total transaction of $665,997.90. Following the sale, the executive vice president now directly owns 52,692 shares of the company’s stock, valued at $11,875,722.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,806 shares of company stock valued at $5,167,142. Insiders own 0.33% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Adobe to $315.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Citigroup boosted their price target on Adobe from $260.00 to $309.00 and gave the company a “buy” rating in a report on Friday, September 14th. Credit Suisse Group boosted their price target on Adobe from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, September 14th. Griffin Securities boosted their price target on Adobe from $278.00 to $296.00 and gave the company a “buy” rating in a report on Friday, September 14th. Finally, Robert W. Baird boosted their price target on Adobe from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 14th. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $271.00.

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Adobe Company 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 customers to download and install the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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