Hunter Associates Investment Management LLC Has $463,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Hunter Associates Investment Management LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 28.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 891 shares of the software company’s stock after acquiring an additional 200 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Adobe were worth $463,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADBE. International Assets Investment Management LLC raised its stake in shares of Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares during the last quarter. Swedbank AB bought a new stake in shares of Adobe during the 1st quarter valued at $621,179,000. Longview Partners Guernsey LTD acquired a new position in shares of Adobe in the 2nd quarter valued at $663,745,000. Price T Rowe Associates Inc. MD boosted its position in shares of Adobe by 17.6% in 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 last quarter. Finally, BlueSpruce Investments LP grew its stake in shares of Adobe by 81.1% during the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock worth $648,712,000 after purchasing an additional 575,675 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ADBE. Stifel Nicolaus raised their target price on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Barclays increased their target price on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Piper Sandler Companies reissued an “overweight” rating and set a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $610.00 price objective on shares of Adobe in a research note on Tuesday, October 15th. Two investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $485.39 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 stock has a 50 day moving average price of $526.85 and a 200 day moving average price of $516.01. The stock has a market capitalization of $215.22 billion, a PE ratio of 43.61, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the business earned $3.26 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Analysts predict that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction of $3,350,360.00. Following the completion of the transaction, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the company’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 completion of the transaction, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,511 shares of company stock valued at $17,408,530. 0.15% of the stock is owned by company insiders.

Adobe 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.