Mirabella Financial Services LLP Increases Stake in Adobe Inc. (NASDAQ:ADBE)

Mirabella Financial Services LLP increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 152.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,229 shares of the software company’s stock after buying an additional 3,158 shares during the period. Mirabella Financial Services LLP’s holdings in Adobe were worth $2,631,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in shares of Adobe by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after purchasing an additional 93,143 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Adobe by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,716,451 shares of the software company’s stock valued at $1,406,524,000 after buying an additional 21,444 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Adobe by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock worth $1,097,475,000 after buying an additional 12,065 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Adobe by 0.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock worth $1,097,044,000 after acquiring an additional 15,685 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 acquiring an additional 185,737 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $517.25 on Monday. The stock has a market capitalization of $227.69 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 2.64 and a beta of 1.30. The business’s 50 day moving average is $503.13 and its two-hundred day moving average is $519.25. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $3.26 earnings per share. Adobe’s quarterly revenue was up 10.6% on a year-over-year basis. Research analysts expect that Adobe Inc. will post 14.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADBE. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Stifel Nicolaus increased their target price on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Barclays upped their price objective on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Two 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 issued a strong buy rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insider Activity

In related news, CEO Shantanu Narayen sold 25,000 shares of the company’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 value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This represents a 6.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction that occurred on 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 $10,740,738.72. The trade was a 23.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock worth $17,736,369 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

About Adobe

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.