Acadian Asset Administration LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 73.5% in the course of the second quarter, in keeping with its most up-to-date Type 13F submitting with the Securities and Change Fee. The fund owned 46,929 shares of the software program firm’s inventory after shopping for an extra 19,876 shares in the course of the quarter. Acadian Asset Administration LLC’s holdings in Adobe had been value $26,066,000 on the finish of the newest quarter.
A number of different giant buyers have additionally just lately modified their holdings of the inventory. Delta Monetary Advisors LLC elevated its stake in Adobe by 6.9% within the 2nd quarter. Delta Monetary Advisors LLC now owns 1,192 shares of the software program firm’s inventory value $662,000 after buying an extra 77 shares in the course of the interval. Strategic Monetary Ideas LLC bought a brand new place in shares of Adobe within the second quarter value $40,417,000. Umpqua Financial institution elevated its stake in shares of Adobe by 13.8% within the second quarter. Umpqua Financial institution now owns 2,939 shares of the software program firm’s inventory value $1,633,000 after shopping for an extra 356 shares in the course of the interval. Oxbow Advisors LLC raised its holdings in Adobe by 8.5% in the course of the 2nd quarter. Oxbow Advisors LLC now owns 21,655 shares of the software program firm’s inventory valued at $12,030,000 after shopping for an extra 1,690 shares over the last quarter. Lastly, Motiv8 Investments LLC boosted its place in Adobe by 47.2% in the course of the 2nd quarter. Motiv8 Investments LLC now owns 1,469 shares of the software program firm’s inventory valued at $816,000 after shopping for an extra 471 shares in the course of the interval. Hedge funds and different institutional buyers personal 81.79% of the corporate’s inventory.
Insider Shopping for and Promoting
In different Adobe information, CAO Mark S. Garfield offered 264 shares of the enterprise’s inventory in a transaction on Monday, June seventeenth. The shares had been offered at a mean worth of $525.51, for a complete transaction of $138,734.64. Following the completion of the sale, the chief accounting officer now instantly owns 2,740 shares within the firm, valued at roughly $1,439,897.40. The sale was disclosed in a doc filed with the SEC, which is offered via this hyperlink. In different Adobe information, CEO Shantanu Narayen offered 25,000 shares of the agency’s inventory in a transaction dated Thursday, June twenty seventh. The inventory was offered at a mean worth of $544.11, for a complete worth of $13,602,750.00. Following the transaction, the chief govt officer now instantly owns 379,660 shares of the corporate’s inventory, valued at $206,576,802.60. The sale was disclosed in a authorized submitting with the Securities & Change Fee, which is offered at the SEC web site. Additionally, CAO Mark S. Garfield offered 264 shares of the corporate’s inventory in a transaction dated Monday, June seventeenth. The shares had been offered at a mean worth of $525.51, for a complete transaction of $138,734.64. Following the sale, the chief accounting officer now instantly owns 2,740 shares of the corporate’s inventory, valued at roughly $1,439,897.40. The disclosure for this sale could be discovered right here. During the last quarter, insiders have offered 27,523 shares of firm inventory value $14,994,277. 0.15% of the inventory is owned by insiders.
Wall Avenue Analyst Weigh In
Quite a few equities analysts have issued reviews on ADBE shares. JPMorgan Chase & Co. upgraded shares of Adobe from a “impartial” score to an “obese” score and boosted their worth goal for the corporate from $570.00 to $580.00 in a analysis report on Friday, June 14th. Melius Analysis reaffirmed a “maintain” score and set a $510.00 worth goal on shares of Adobe in a analysis report on Monday, June tenth. Piper Sandler dropped their worth goal on Adobe from $700.00 to $635.00 and set an “obese” score for the corporate in a report on Friday, July twelfth. StockNews.com minimize Adobe from a “purchase” score to a “maintain” score in a analysis notice on Friday, August twenty third. Lastly, Robert W. Baird raised their worth goal on Adobe from $525.00 to $545.00 and gave the inventory a “impartial” score in a analysis notice on Friday, June 14th. Two funding analysts have rated the inventory with a promote score, eight have assigned a maintain score and twenty have issued a purchase score to the corporate’s inventory. In keeping with MarketBeat, the inventory has a consensus score of “Reasonable Purchase” and a consensus goal worth of $605.52.
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Adobe Buying and selling Down 0.8 %
Shares of NASDAQ ADBE opened at $563.41 on Monday. The corporate has a market cap of $249.82 billion, a PE ratio of fifty.62, a P/E/G ratio of three.00 and a beta of 1.29. The corporate has a debt-to-equity ratio of 0.28, a fast ratio of 1.16 and a present ratio of 1.16. The agency’s 50 day shifting common worth is $553.72 and its 200-day shifting common worth is $519.08. Adobe Inc. has a 52-week low of $433.97 and a 52-week excessive of $638.25.
Adobe (NASDAQ:ADBE – Get Free Report) final issued its earnings outcomes on Thursday, June thirteenth. The software program firm reported $4.48 EPS for the quarter, beating the consensus estimate of $4.39 by $0.09. Adobe had a return on fairness of 40.67% and a web margin of 24.86%. The enterprise had income of $5.31 billion for the quarter, in comparison with the consensus estimate of $5.29 billion. Throughout the identical interval final 12 months, the enterprise posted $3.04 EPS. The corporate’s income was up 10.2% in comparison with the identical quarter final 12 months. On common, equities analysis analysts anticipate that Adobe Inc. will submit 14.69 EPS for the present fiscal 12 months.
Adobe Profile
Adobe Inc, along with its subsidiaries, operates as a diversified software program firm worldwide. It operates via three segments: Digital Media, Digital Expertise, and Publishing and Promoting. The Digital Media section presents merchandise, companies, and options that allow people, groups, and enterprises to create, publish, and promote content material; and Doc Cloud, a unified cloud-based doc companies platform.
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