Boston Family Office LLC Buys 511 Shares of Adobe Inc. (NASDAQ:ADBE)

Boston Family Office LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 41,324 shares of the software company’s stock after acquiring an additional 511 shares during the period. Adobe makes up approximately 1.4% of Boston Family Office LLC’s holdings, making the stock its 24th biggest position. Boston Family Office LLC’s holdings in Adobe were worth $21,397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fisher Asset Management LLC lifted its stake in Adobe by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after acquiring an additional 93,143 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Adobe by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,716,451 shares of the software company’s stock valued at $1,406,524,000 after acquiring an additional 21,444 shares during the period. Principal Financial Group Inc. lifted its stake in Adobe by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock valued at $1,097,475,000 after acquiring an additional 12,065 shares during the period. Clearbridge Investments LLC lifted its stake in Adobe by 0.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock valued at $1,097,044,000 after acquiring an additional 15,685 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Adobe by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock valued at $945,780,000 after acquiring an additional 185,737 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE stock opened at $512.15 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $503.13 and its two-hundred day simple moving average is $519.25. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The firm has a market cap of $225.45 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 2.64 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.26 earnings per share. Analysts predict that Adobe Inc. will post 14.82 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the subject of several research reports. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Citigroup upped their price target on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Oppenheimer reissued an “outperform” rating and issued a $625.00 target price on shares of Adobe in a report on Friday, September 13th. Finally, Bank of America restated a “buy” rating and issued a $640.00 price target on shares of Adobe in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have issued 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. The trade was a 23.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction dated 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 owns 357,700 shares in the company, valued at $186,569,166. This trade represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,187 shares of company stock worth $17,736,369 over the last quarter. Insiders own 0.15% of the company’s stock.

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.