Adobe Inc. (NASDAQ:ADBE) Holdings Reduced by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its position in Adobe Inc. (NASDAQ:ADBE) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 572,674 shares of the software company’s stock after selling 13,052 shares during the period. Adobe makes up approximately 0.7% of Royal London Asset Management Ltd.’s holdings, making the stock its 22nd biggest position. Royal London Asset Management Ltd. owned 0.13% of Adobe worth $296,519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Onyx Bridge Wealth Group LLC lifted its stake in Adobe by 3.9% in the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after buying an additional 19 shares during the period. HTLF Bank lifted its stake in Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after buying an additional 19 shares during the period. Commonwealth Financial Services LLC increased its holdings in shares of Adobe by 3.7% during the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after acquiring an additional 19 shares in the last quarter. Orrstown Financial Services Inc. increased its holdings in shares of Adobe by 0.9% during the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after acquiring an additional 20 shares in the last quarter. Finally, Orser Capital Management LLC increased its holdings in shares of Adobe by 0.3% during the second quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock valued at $3,815,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of several recent research reports. 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. Morgan Stanley restated an “overweight” rating and set a $660.00 price objective on shares of Adobe in a report on Friday, September 13th. Bank of America restated a “buy” rating and set a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. UBS Group decreased their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $601.25.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 23.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock worth $17,736,369 in the last ninety days. 0.15% of the stock is owned by insiders.

Adobe Price Performance

Shares of Adobe stock opened at $536.49 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $236.16 billion, a PE ratio of 45.31, a price-to-earnings-growth ratio of 2.35 and a beta of 1.29. The business’s 50-day moving average price is $502.99 and its 200-day moving average price is $521.07. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $3.26 EPS. The company’s revenue was up 10.6% on a year-over-year basis. Sell-side analysts forecast that Adobe Inc. will post 14.82 EPS for the current fiscal year.

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.