Saturna Capital Corp Sells 1,605 Shares of Adobe Inc. (NASDAQ:ADBE)

Saturna Capital Corp decreased its position in Adobe Inc. (NASDAQ:ADBE) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 339,060 shares of the software company’s stock after selling 1,605 shares during the period. Adobe comprises approximately 2.3% of Saturna Capital Corp’s holdings, making the stock its 13th largest holding. Saturna Capital Corp owned 0.08% of Adobe worth $175,558,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Onyx Bridge Wealth Group LLC increased its stake in shares of Adobe by 3.9% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after acquiring an additional 19 shares in the last quarter. HTLF Bank grew its holdings in Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after purchasing an additional 19 shares during the period. Commonwealth Financial Services LLC increased its stake in Adobe by 3.7% in the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after purchasing an additional 19 shares in the last quarter. Orrstown Financial Services Inc. increased its stake in Adobe by 0.9% in the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after purchasing an additional 20 shares in the last quarter. Finally, Orser Capital Management LLC boosted its position in shares of Adobe by 0.3% during the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after purchasing an additional 20 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE stock opened at $523.99 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $230.66 billion, a price-to-earnings ratio of 44.46, a P/E/G ratio of 2.60 and a beta of 1.30. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The firm’s 50-day simple moving average is $512.61 and its two-hundred day simple moving average is $517.56.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.26 EPS. As a group, equities analysts forecast that Adobe Inc. will post 14.82 earnings per share for the current year.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Jillian Forusz sold 676 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on ADBE. Royal Bank of Canada restated an “outperform” rating and set a $610.00 price objective on shares of Adobe in a report on Tuesday, October 15th. Bank of America restated a “buy” rating and set a $640.00 price target on shares of Adobe in a research note on Friday, September 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.