Martin Capital Advisors LLP Acquires 36 Shares of Adobe Inc. (NASDAQ:ADBE)

Martin Capital Advisors LLP lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,126 shares of the software company’s stock after acquiring an additional 36 shares during the period. Martin Capital Advisors LLP’s holdings in Adobe were worth $1,101,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in shares of Adobe by 1,213.5% during the 4th quarter. Wellington Management Group LLP now owns 2,024,438 shares of the software company’s stock worth $1,207,780,000 after buying an additional 1,870,307 shares in the last quarter. Swedbank AB bought a new position in Adobe in the 1st quarter valued at $621,179,000. Longview Partners Guernsey LTD purchased a new stake in shares of Adobe during the 2nd quarter valued at $663,745,000. Price T Rowe Associates Inc. MD raised its stake in shares of Adobe by 17.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after purchasing an additional 1,146,718 shares during the period. Finally, BlueSpruce Investments LP boosted its holdings in shares of Adobe by 81.1% in the 1st quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock worth $648,712,000 after buying an additional 575,675 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 151 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,229 shares of company stock valued at $16,785,501 in the last 90 days. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADBE. Barclays lifted their price objective on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Oppenheimer reissued an “outperform” rating and set a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. Sanford C. Bernstein decreased their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, UBS Group lowered their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Performance

Shares of ADBE stock opened at $495.42 on Monday. The company has a market capitalization of $219.67 billion, a P/E ratio of 44.51, a PEG ratio of 2.55 and a beta of 1.29. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. 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 stock has a 50 day moving average price of $537.29 and a two-hundred day moving average price of $515.88.

Adobe (NASDAQ:ADBE) last posted 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 net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business posted $3.26 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that Adobe Inc. will post 14.8 earnings per share for the current year.

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.