Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Fmr LLC

FMR LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,690,163 shares of the software company's stock after acquiring an additional 787,356 shares during the quarter. FMR LLC owned 2.20% of Adobe worth $5,017,373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Adobe by 0.8% during the 3rd 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. boosted its stake 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 worth $1,097,475,000 after purchasing an additional 12,065 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Adobe by 0.8% in the second quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company's stock worth $1,097,044,000 after purchasing an additional 15,685 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Adobe by 12.2% during 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. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other Adobe news, 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 value of $13,039,500.00. Following the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. The trade was a 6.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock valued at $17,736,369 over the last 90 days. Insiders own 0.15% of the company's stock.

Adobe Stock Performance

ADBE traded up $4.64 during midday trading on Tuesday, hitting $523.37. 1,520,026 shares of the company traded hands, compared to its average volume of 3,141,242. 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 52 week low of $433.97 and a 52 week high of $638.25. The firm has a market capitalization of $230.39 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.30. The company's 50-day moving average is $503.08 and its 200 day moving average is $519.50.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $3.26 EPS. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts expect that Adobe Inc. will post 14.82 EPS for the current year.

Analyst Ratings Changes

ADBE has been the topic of a number of analyst reports. StockNews.com upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research report on Friday, September 13th. Citigroup lifted their target price on Adobe from $550.00 to $621.00 and gave the company a "neutral" rating in a research report on Wednesday, September 11th. Oppenheimer reiterated an "outperform" rating and issued a $625.00 price target on shares of Adobe in a research note on Friday, September 13th. Sanford C. Bernstein reduced their target price on shares of Adobe from $660.00 to $644.00 and set an "outperform" rating on the stock in a research note on Friday, September 13th. Finally, JMP Securities reiterated a "market perform" rating on shares of Adobe in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $606.40.

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.