Y.D. More Investments Ltd Has $2.81 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Y.D. More Investments Ltd lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,748 shares of the software company’s stock after selling 711 shares during the quarter. Adobe accounts for 0.6% of Y.D. More Investments Ltd’s holdings, making the stock its 29th biggest position. Y.D. More Investments Ltd’s holdings in Adobe were worth $2,810,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ADBE. Ilmarinen Mutual Pension Insurance Co lifted its stake in Adobe by 11.1% in the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 50,000 shares of the software company’s stock valued at $19,269,000 after acquiring an additional 5,000 shares during the last quarter. Vident Investment Advisory LLC lifted its position in Adobe by 585.8% during the fourth quarter. Vident Investment Advisory LLC now owns 70,198 shares of the software company’s stock worth $23,624,000 after acquiring an additional 59,962 shares during the last quarter. Geo Capital Gestora de Recursos Ltd lifted its holdings in Adobe by 8.5% during the 1st quarter. Geo Capital Gestora de Recursos Ltd now owns 10,433 shares of the software company’s stock worth $4,021,000 after purchasing an additional 813 shares during the last quarter. Abacus Planning Group Inc. acquired a new stake in shares of Adobe during the second quarter worth $201,000. Finally, Raleigh Capital Management Inc. raised its stake in Adobe by 19.3% in the 1st quarter. Raleigh Capital Management Inc. now owns 507 shares of the software company’s stock worth $195,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Adobe Stock Down 0.2 %

ADBE stock traded down $0.88 during trading on Monday, reaching $528.01. 437,962 shares of the stock were exchanged, compared to its average volume of 3,209,459. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. Adobe Inc. has a twelve month low of $274.73 and a twelve month high of $570.24. The firm’s 50 day moving average is $530.08 and its 200 day moving average is $443.78. The firm has a market cap of $240.67 billion, a P/E ratio of 50.47, a price-to-earnings-growth ratio of 3.32 and a beta of 1.33.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 14th. The software company reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.98 by $0.11. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.87 billion. Adobe had a net margin of 26.34% and a return on equity of 36.84%. Adobe’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.63 EPS. As a group, research analysts forecast that Adobe Inc. will post 12.56 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 298 shares of Adobe stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $526.74, for a total transaction of $156,968.52. Following the transaction, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at $2,135,930.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Adobe news, CAO Mark S. Garfield sold 298 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $526.74, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 2,191 shares of Adobe stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $520.00, for a total transaction of $1,139,320.00. Following the transaction, the executive vice president now directly owns 23,775 shares in the company, valued at approximately $12,363,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,089 shares of company stock valued at $20,720,115. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ADBE shares. Stifel Nicolaus raised their price objective on Adobe from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $615.00 target price on shares of Adobe in a research note on Friday. Piper Jaffray Companies raised their price target on shares of Adobe from $500.00 to $572.00 and gave the company an “overweight” rating in a research note on Friday, June 16th. UBS Group boosted their target price on shares of Adobe from $525.00 to $600.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 6th. Finally, Morgan Stanley upgraded Adobe from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $510.00 to $660.00 in a research note on Monday, July 31st. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $586.38.

About Adobe

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.