Signaturefd LLC Buys 658 Shares of Adobe Inc. (NASDAQ:ADBE)

Signaturefd LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 6.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,061 shares of the software company’s stock after purchasing an additional 658 shares during the quarter. Signaturefd LLC’s holdings in Adobe were worth $5,727,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of ADBE. Northwest Investment Counselors LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $63,000. Capital Advisors Wealth Management LLC boosted its holdings in shares of Adobe by 8.7% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 675 shares of the software company’s stock valued at $341,000 after buying an additional 54 shares during the last quarter. Fermata Advisors LLC boosted its holdings in shares of Adobe by 75.7% in the 1st quarter. Fermata Advisors LLC now owns 715 shares of the software company’s stock valued at $361,000 after buying an additional 308 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of Adobe by 8.9% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 10,342 shares of the software company’s stock valued at $5,219,000 after buying an additional 843 shares during the last quarter. Finally, Shorepath Capital Management LLC lifted its holdings in Adobe by 25.8% during the 1st quarter. Shorepath Capital Management LLC now owns 7,369 shares of the software company’s stock valued at $3,718,000 after purchasing an additional 1,509 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Adobe

In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the sale, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 transaction of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,608 shares of company stock worth $17,486,391. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADBE shares. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. Morgan Stanley reissued an “overweight” rating and set a $660.00 target price on shares of Adobe in a report on Friday, September 13th. Bank of America reiterated a “buy” rating and issued a $640.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, Stifel Nicolaus raised their target price on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Trading Down 1.7 %

Shares of NASDAQ ADBE traded down $8.48 during trading on Tuesday, reaching $489.23. The company had a trading volume of 996,194 shares, compared to its average volume of 3,198,410. The company’s fifty day moving average price is $534.79 and its 200-day moving average price is $515.99. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The stock has a market cap of $216.92 billion, a P/E ratio of 44.39, a PEG ratio of 2.55 and a beta of 1.29. 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 quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the company posted $3.26 EPS. The business’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that Adobe Inc. will post 14.8 earnings per share for the current year.

About Adobe

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.