Adobe Inc. (NASDAQ:ADBE) Stock Position Lifted by Meitav Investment House Ltd.

Meitav Investment House Ltd. grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 31.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 165,781 shares of the software company’s stock after purchasing an additional 39,658 shares during the quarter. Adobe makes up 1.4% of Meitav Investment House Ltd.’s investment portfolio, making the stock its 21st largest position. Meitav Investment House Ltd.’s holdings in Adobe were worth $86,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Teamwork Financial Advisors LLC lifted its stake in shares of Adobe by 90.8% in the first quarter. Teamwork Financial Advisors LLC now owns 929 shares of the software company’s stock worth $469,000 after buying an additional 442 shares during the last quarter. Everett Harris & Co. CA grew its holdings in Adobe by 173.2% during the 1st quarter. Everett Harris & Co. CA now owns 2,106 shares of the software company’s stock worth $1,063,000 after acquiring an additional 1,335 shares during the last quarter. FORVIS Wealth Advisors LLC grew its holdings in Adobe by 27.3% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 5,603 shares of the software company’s stock worth $2,827,000 after acquiring an additional 1,202 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in Adobe by 7.0% during the 1st quarter. J.W. Cole Advisors Inc. now owns 4,135 shares of the software company’s stock worth $2,083,000 after acquiring an additional 270 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in Adobe by 0.9% during the 1st quarter. Private Advisor Group LLC now owns 22,946 shares of the software company’s stock worth $11,579,000 after acquiring an additional 198 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Activity at Adobe

In related news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value 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 approximately $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Adobe news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following 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 disclosure for this sale can be found here. Over the last three months, insiders sold 33,511 shares of company stock valued at $17,408,530. 0.15% of the stock is owned by corporate insiders.

Adobe Price Performance

Shares of ADBE opened at $484.04 on Thursday. The stock has a market capitalization of $214.62 billion, a P/E ratio of 43.67, a P/E/G ratio of 2.55 and a beta of 1.29. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The company has a 50 day moving average of $525.27 and a 200-day moving average of $515.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADBE. Sanford C. Bernstein decreased their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. UBS Group cut their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Barclays upped their target price on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

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.