Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lifted by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,226 shares of the software company’s stock after buying an additional 708 shares during the quarter. Adobe accounts for about 3.6% of Capital Investment Services of America Inc.’s portfolio, making the stock its 5th largest position. Capital Investment Services of America Inc.’s holdings in Adobe were worth $32,873,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Adobe during the 4th quarter valued at about $1,757,029,000. Moneta Group Investment Advisors LLC grew its holdings in Adobe by 115,991.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,248,225 shares of the software company’s stock worth $1,093,125,000 after acquiring an additional 3,245,427 shares during the period. Morgan Stanley grew its holdings in Adobe by 17.7% during the fourth quarter. Morgan Stanley now owns 9,804,275 shares of the software company’s stock worth $3,299,433,000 after acquiring an additional 1,471,861 shares during the period. GQG Partners LLC acquired a new stake in Adobe during the first quarter worth about $557,101,000. Finally, Alyeska Investment Group L.P. grew its holdings in Adobe by 663.4% during the first quarter. Alyeska Investment Group L.P. now owns 827,174 shares of the software company’s stock worth $318,768,000 after acquiring an additional 718,822 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Adobe news, EVP Dana Rao sold 2,600 shares of Adobe stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $480.21, for a total transaction of $1,248,546.00. Following the completion of the sale, the executive vice president now directly owns 17,466 shares of the company’s stock, valued at approximately $8,387,347.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Adobe news, CAO Mark S. Garfield sold 298 shares of Adobe stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $526.74, for a total transaction of $156,968.52. Following the completion of the sale, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at approximately $2,135,930.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dana Rao sold 2,600 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $480.21, for a total value of $1,248,546.00. Following the completion of the sale, the executive vice president now directly owns 17,466 shares of the company’s stock, valued at $8,387,347.86. The disclosure for this sale can be found here. Insiders sold 43,089 shares of company stock valued at $20,720,115 in the last ninety days. Insiders own 0.24% of the company’s stock.

Adobe Stock Down 4.2 %

ADBE traded down $23.27 on Friday, hitting $528.89. 9,774,477 shares of the company were exchanged, compared to its average volume of 3,226,019. Adobe Inc. has a twelve month low of $274.73 and a twelve month high of $570.24. The company has a market cap of $241.07 billion, a price-to-earnings ratio of 50.47, a price-to-earnings-growth ratio of 3.32 and a beta of 1.33. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $530.08 and a two-hundred day moving average price of $442.94.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 14th. The software company reported $4.09 EPS for the quarter, topping the consensus estimate of $3.98 by $0.11. Adobe had a return on equity of 36.84% and a net margin of 26.34%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the firm posted $2.63 EPS. Adobe’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts predict that Adobe Inc. will post 12.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Adobe from $544.00 to $570.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley upgraded Adobe from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $510.00 to $660.00 in a research report on Monday, July 31st. Piper Sandler lifted their price objective on Adobe from $572.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group lifted their price objective on Adobe from $525.00 to $600.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 6th. Finally, Atlantic Securities lifted their price objective on Adobe from $420.00 to $580.00 in a research report on Friday, June 16th. Nine investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $586.38.

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.