Adobe Inc. (NASDAQ:ADBE) Stock Holdings Trimmed by EULAV Asset Management

EULAV Asset Management cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,100 shares of the software company's stock after selling 4,300 shares during the quarter. EULAV Asset Management's holdings in Adobe were worth $38,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC raised its position in shares of Adobe by 66,909.7% during the 3rd 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. Swedbank AB purchased a new stake in shares of Adobe in the first quarter valued at approximately $621,179,000. Longview Partners Guernsey LTD purchased a new stake in shares of Adobe in the second quarter valued at approximately $663,745,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Adobe by 17.6% in the first 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 buying an additional 1,146,718 shares in the last quarter. Finally, BlueSpruce Investments LP boosted its stake in shares of Adobe by 81.1% in the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company's stock valued at $648,712,000 after buying an additional 575,675 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of research analyst reports. Barclays boosted their target price on Adobe from $650.00 to $675.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. Stifel Nicolaus boosted their target price on Adobe from $600.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Sanford C. Bernstein decreased their target price on Adobe from $660.00 to $644.00 and set an "outperform" rating on the stock in a research report on Friday, September 13th. Oppenheimer reiterated an "outperform" rating and set a $625.00 target price on shares of Adobe in a research report on Friday, September 13th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $660.00 target price on shares of Adobe in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and a consensus price target of $606.40.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 23.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 481 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This trade 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 worth $17,736,369 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

Adobe Stock Down 0.0 %

Shares of ADBE stock traded down $0.11 during trading hours on Wednesday, reaching $499.50. The company had a trading volume of 1,873,310 shares, compared to its average volume of 3,156,954. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The company has a market capitalization of $219.88 billion, a P/E ratio of 42.20, a price-to-earnings-growth ratio of 2.59 and a beta of 1.30. The stock's fifty day simple moving average is $506.89 and its 200 day simple moving average is $518.95.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the firm earned $3.26 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that Adobe Inc. will post 14.82 earnings per share for the current fiscal 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.