Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Cordatus Wealth Management LLC

Cordatus Wealth Management LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.3% during the third quarter, Holdings Channel reports. The firm owned 9,011 shares of the software company’s stock after acquiring an additional 120 shares during the quarter. Adobe makes up about 1.7% of Cordatus Wealth Management LLC’s portfolio, making the stock its 15th largest holding. Cordatus Wealth Management LLC’s holdings in Adobe were worth $4,666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Adobe by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock valued at $20,511,473,000 after acquiring an additional 382,803 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in 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 valued at $3,857,189,000 after purchasing an additional 1,146,718 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Adobe by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock valued at $1,097,475,000 after purchasing an additional 12,065 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Adobe by 0.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock valued at $1,097,044,000 after purchasing an additional 15,685 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Adobe by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock valued at $945,780,000 after purchasing an additional 185,737 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s 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 directly owns 357,700 shares of the company’s stock, valued at $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,511 shares of company stock worth $17,408,530. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ADBE. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Piper Sandler Companies reissued an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, July 12th. Citigroup boosted their price target on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Oppenheimer reissued an “outperform” rating and set a $625.00 price target on shares of Adobe in a research note on Friday, September 13th. Finally, Stifel Nicolaus upped their target price on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Trading Down 1.8 %

Shares of ADBE stock traded down $8.73 on Thursday, reaching $477.95. 769,362 shares of the stock were exchanged, compared to its average volume of 3,166,938. The firm has a 50 day moving average of $525.27 and a two-hundred day moving average of $515.81. 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 Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The stock has a market cap of $211.92 billion, a P/E ratio of 43.31, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.26 earnings per share. On average, research analysts anticipate that Adobe Inc. will post 14.8 EPS 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.