Banque Cantonale Vaudoise Acquires 3,099 Shares of Adobe Inc. (NASDAQ:ADBE)

Banque Cantonale Vaudoise increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,547 shares of the software company's stock after acquiring an additional 3,099 shares during the period. Adobe comprises about 0.6% of Banque Cantonale Vaudoise's investment portfolio, making the stock its 23rd biggest position. Banque Cantonale Vaudoise's holdings in Adobe were worth $15,299,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ADBE. Price T Rowe Associates Inc. MD boosted its holdings in Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company's stock worth $3,857,189,000 after purchasing an additional 1,146,718 shares during the last quarter. Principal Financial Group Inc. raised its position in Adobe by 0.6% during the second quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company's stock worth $1,097,475,000 after acquiring an additional 12,065 shares in the last quarter. Clearbridge Investments LLC raised its position in Adobe by 0.8% during the second 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. Dimensional Fund Advisors LP raised its position in Adobe by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company's stock worth $945,780,000 after acquiring an additional 185,737 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company's stock worth $713,703,000 after acquiring an additional 1,376,333 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now directly owns 18,128 shares of the company's stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is owned by insiders.

Adobe Trading Up 0.0 %

Shares of NASDAQ ADBE traded up $0.10 during trading on Tuesday, reaching $499.61. The stock had a trading volume of 1,960,744 shares, compared to its average volume of 3,162,681. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The company has a market cap of $219.93 billion, a P/E ratio of 42.25, a PEG ratio of 2.59 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The business's 50-day moving average price is $508.38 and its 200-day moving average price is $518.85.

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

Analyst Ratings Changes

ADBE has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective 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 reissued a "market perform" rating on shares of Adobe in a research report on Friday, September 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $610.00 price objective on shares of Adobe in a research report on Tuesday, October 15th. Morgan Stanley reissued an "overweight" rating and issued a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Finally, Sanford C. Bernstein dropped their price objective on shares of Adobe from $660.00 to $644.00 and set an "outperform" rating on the stock in a research report on Friday, September 13th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock 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.