Simon Quick Advisors LLC Decreases Position in Adobe Inc. (NASDAQ:ADBE)

Simon Quick Advisors LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 11.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 360 shares of the software company’s stock after selling 46 shares during the period. Simon Quick Advisors LLC’s holdings in Adobe were worth $177,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Adobe by 4.5% in the 2nd quarter. BlackRock Inc. now owns 38,069,522 shares of the software company’s stock valued at $16,572,043,000 after purchasing an additional 1,623,749 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Adobe by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,672,342 shares of the software company’s stock valued at $3,775,156,000 after purchasing an additional 263,538 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Adobe by 4.1% in the 2nd quarter. Fisher Asset Management LLC now owns 5,344,469 shares of the software company’s stock valued at $2,326,501,000 after purchasing an additional 212,586 shares in the last quarter. Copper Rock Capital Partners LLC raised its holdings in shares of Adobe by 6,598.7% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 2,769,030 shares of the software company’s stock valued at $1,024,851,000 after purchasing an additional 2,727,693 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Adobe by 3.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,282,358 shares of the software company’s stock valued at $993,535,000 after purchasing an additional 71,012 shares in the last quarter. 84.03% of the stock is owned by institutional investors.

Shares of ADBE opened at $478.56 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The stock has a market cap of $229.57 billion, a P/E ratio of 60.27, a PEG ratio of 3.13 and a beta of 0.97. The company has a 50-day moving average of $486.24 and a two-hundred day moving average of $430.87. Adobe Inc. has a 12-month low of $255.13 and a 12-month high of $536.88.

Adobe (NASDAQ:ADBE) last announced its earnings results on Tuesday, September 15th. The software company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.16. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Adobe had a net margin of 31.05% and a return on equity of 35.84%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. As a group, analysts forecast that Adobe Inc. will post 8.23 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on ADBE shares. Jefferies Financial Group raised their price objective on shares of Adobe from $570.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. Royal Bank of Canada lifted their price target on shares of Adobe from $550.00 to $570.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Barclays lifted their price target on shares of Adobe from $530.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 16th. BidaskClub lowered shares of Adobe from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Finally, Credit Suisse Group set a $560.00 price target on shares of Adobe and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $504.86.

In other news, CFO John Francis Murphy sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $480.90, for a total value of $1,923,600.00. Following the completion of the transaction, the chief financial officer now owns 16,266 shares of the company’s stock, valued at $7,822,319.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Ann Lewnes sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $447.59, for a total transaction of $2,237,950.00. Following the completion of the transaction, the chief marketing officer now directly owns 40,257 shares of the company’s stock, valued at approximately $18,018,630.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,376 shares of company stock valued at $20,042,368. 0.31% of the stock is currently owned by company insiders.

About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, 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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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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