Stablepoint Partners LLC Boosts Position in Adobe Inc. (NASDAQ:ADBE)

Stablepoint Partners LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,515 shares of the software company’s stock after buying an additional 68 shares during the period. Stablepoint Partners LLC’s holdings in Adobe were worth $784,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new position in shares of Adobe during the third quarter valued at $707,000. VitalStone Financial LLC raised its position in shares of Adobe by 125.6% during the 3rd quarter. VitalStone Financial LLC now owns 1,261 shares of the software company’s stock worth $653,000 after buying an additional 702 shares in the last quarter. Smith Chas P & Associates PA Cpas boosted its holdings in shares of Adobe by 2.5% in the third quarter. Smith Chas P & Associates PA Cpas now owns 1,300 shares of the software company’s stock valued at $673,000 after acquiring an additional 32 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its stake in shares of Adobe by 5.1% during the third quarter. Redhawk Wealth Advisors Inc. now owns 511 shares of the software company’s stock valued at $265,000 after acquiring an additional 25 shares during the period. Finally, Willis Investment Counsel raised its holdings in Adobe by 2.7% during the third quarter. Willis Investment Counsel now owns 15,903 shares of the software company’s stock worth $8,234,000 after purchasing an additional 416 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADBE. Oppenheimer reiterated an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Morgan Stanley reiterated an “overweight” rating and set a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Royal Bank of Canada restated an “outperform” rating and issued a $610.00 target price on shares of Adobe in a report on Friday, September 13th. Finally, Citigroup lifted their price target on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Trading Up 2.9 %

ADBE opened at $509.65 on Tuesday. 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 50-day moving average of $537.29 and a 200 day moving average of $515.92. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The firm has a market cap of $225.98 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm posted $3.26 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts forecast that Adobe Inc. will post 14.8 EPS for the current year.

Insiders Place Their Bets

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $258,297.00. Following the completion of the transaction, the executive vice president now owns 19,658 shares of the company’s stock, valued at $10,556,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,078 shares of company stock valued at $16,700,246. 0.15% of the stock is owned by corporate insiders.

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.