Cantillon Capital Management LLC Increases Stock Position in Adobe Inc. (NASDAQ:ADBE)

Cantillon Capital Management LLC boosted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 519,627 shares of the software company's stock after acquiring an additional 79,898 shares during the quarter. Cantillon Capital Management LLC owned 0.12% of Adobe worth $269,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ADBE. Onyx Bridge Wealth Group LLC boosted its position in Adobe by 3.9% during 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 boosted its position in Adobe by 3.3% during 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 boosted its position in 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 buying an additional 19 shares during the period. Orrstown Financial Services Inc. boosted its position in 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 buying an additional 20 shares during the period. Finally, Orser Capital Management LLC boosted its position in 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 buying an additional 20 shares during the period. Institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler restated an "overweight" rating and set a $635.00 price target on shares of Adobe in a research report on Friday, September 13th. UBS Group dropped their target price on shares of Adobe from $560.00 to $550.00 and set a "neutral" rating for the company in a report on Friday, September 13th. Barclays increased their target price on shares of Adobe from $650.00 to $675.00 and gave the stock an "overweight" rating in a report on Wednesday, September 4th. StockNews.com upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 13th. Finally, Argus upgraded shares of Adobe to a "strong-buy" rating in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and an average price target of $606.40.

Adobe Stock Performance

ADBE traded up $0.10 during mid-day trading on Tuesday, reaching $499.61. 1,960,948 shares of the company traded hands, compared to its average volume of 3,162,682. The stock has a market capitalization of $219.93 billion, a P/E ratio of 42.20, a P/E/G ratio of 2.59 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The company's fifty day moving average price is $506.89 and its 200-day moving average price is $518.95. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts' consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.26 EPS. On average, sell-side analysts expect that Adobe Inc. will post 14.82 EPS for the current year.

Insider Activity

In related news, CEO Shantanu Narayen sold 25,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 357,700 shares of the company's stock, valued at approximately $186,569,166. This represents a 6.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of the company's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares of the company's stock, valued at $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock valued at $17,736,369 in the last 90 days. Company insiders own 0.15% of the company's stock.

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.