Adobe Inc. (NASDAQ:ADBE) is Marshall & Sullivan Inc. WA’s 9th Largest Position

Marshall & Sullivan Inc. WA grew its position in Adobe Inc. (NASDAQ:ADBE) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,574 shares of the software company’s stock after buying an additional 179 shares during the quarter. Adobe accounts for approximately 3.4% of Marshall & Sullivan Inc. WA’s holdings, making the stock its 9th biggest holding. Marshall & Sullivan Inc. WA’s holdings in Adobe were worth $6,149,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. NewSquare Capital LLC boosted its stake in shares of Adobe by 278.9% during the first quarter. NewSquare Capital LLC now owns 72 shares of the software company’s stock valued at $28,000 after acquiring an additional 53 shares during the last quarter. Financial Freedom LLC acquired a new stake in shares of Adobe during the fourth quarter valued at $29,000. Financial Management Professionals Inc. boosted its stake in shares of Adobe by 171.0% during the first quarter. Financial Management Professionals Inc. now owns 84 shares of the software company’s stock valued at $32,000 after acquiring an additional 53 shares during the last quarter. Independence Bank of Kentucky boosted its stake in shares of Adobe by 209.1% during the second quarter. Independence Bank of Kentucky now owns 68 shares of the software company’s stock valued at $33,000 after acquiring an additional 46 shares during the last quarter. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Adobe during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Insider Transactions at Adobe

In other news, CEO Shantanu Narayen sold 35,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $478.03, for a total value of $16,731,050.00. Following the sale, the chief executive officer now owns 403,352 shares of the company’s stock, valued at approximately $192,814,356.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Shantanu Narayen sold 35,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $478.03, for a total value of $16,731,050.00. Following the sale, the chief executive officer now owns 403,352 shares of the company’s stock, valued at approximately $192,814,356.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 298 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $526.74, for a total value of $156,968.52. Following the sale, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at $2,135,930.70. The disclosure for this sale can be found here. In the last 90 days, insiders have 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

ADBE has been the topic of a number of analyst reports. Piper Jaffray Companies increased their price objective on Adobe from $500.00 to $572.00 and gave the company an “overweight” rating in a research note on Friday, June 16th. StockNews.com started coverage on Adobe in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $615.00 price target on shares of Adobe in a research note on Friday. TheStreet raised Adobe from a “c+” rating to a “b-” rating in a research note on Wednesday, June 21st. Finally, Evercore ISI raised their price target on Adobe from $590.00 to $605.00 and gave the stock an “outperform” rating in a research note on Friday. Nine analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $586.38.

Adobe Trading Up 0.7 %

Shares of ADBE stock opened at $532.42 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.25. Adobe Inc. has a 1 year low of $274.73 and a 1 year high of $570.24. The stock has a fifty day moving average of $530.08 and a two-hundred day moving average of $443.78. The firm has a market capitalization of $242.68 billion, a PE ratio of 47.92, a price-to-earnings-growth ratio of 3.17 and a beta of 1.33.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 14th. The software company reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.98 by $0.11. Adobe had a return on equity of 37.73% and a net margin of 27.11%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the business earned $2.63 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts expect that Adobe Inc. will post 12.58 EPS for the current year.

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.