Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Torray Investment Partners LLC

Torray Investment Partners LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,617 shares of the software company’s stock after purchasing an additional 215 shares during the period. Torray Investment Partners LLC’s holdings in Adobe were worth $6,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Connable Office Inc. lifted its position in Adobe by 0.5% during the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after acquiring an additional 20 shares in the last quarter. 1ST Source Bank increased its holdings in Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after purchasing an additional 20 shares during the last quarter. James J. Burns & Company LLC increased its holdings in Adobe by 5.6% during the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock worth $215,000 after purchasing an additional 22 shares during the last quarter. Holistic Financial Partners increased its holdings in Adobe by 6.0% during the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock worth $200,000 after purchasing an additional 22 shares during the last quarter. Finally, Beacon Financial Advisory LLC increased its holdings in Adobe by 4.8% during the 3rd quarter. Beacon Financial Advisory LLC now owns 498 shares of the software company’s stock worth $258,000 after purchasing an additional 23 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Up 0.5 %

Shares of ADBE stock opened at $440.72 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. The stock has a fifty day moving average of $439.59 and a two-hundred day moving average of $489.79. The firm has a market capitalization of $191.85 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the previous year, the firm posted $3.52 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

ADBE has been the topic of several analyst reports. BMO Capital Markets dropped their price objective on Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. UBS Group dropped their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Mizuho dropped their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $590.00 price objective on shares of Adobe in a report on Thursday, February 13th. Finally, DA Davidson dropped their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average target price of $570.88.

Insiders Place Their Bets

In other news, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by company insiders.

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.