Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,534 shares of the software company's stock after buying an additional 13,084 shares during the quarter. Adobe accounts for about 0.7% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 21st largest position. Oppenheimer Asset Management Inc.'s holdings in Adobe were worth $56,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ADBE. Private Management Group Inc. lifted its holdings in Adobe by 4.6% during the 1st quarter. Private Management Group Inc. now owns 643 shares of the software company's stock worth $324,000 after purchasing an additional 28 shares during the last quarter. D Orazio & Associates Inc. lifted its holdings in Adobe by 1.6% during the 1st quarter. D Orazio & Associates Inc. now owns 1,360 shares of the software company's stock worth $686,000 after buying an additional 22 shares during the period. TBH Global Asset Management LLC lifted its stake in shares of Adobe by 35.4% in the 1st quarter. TBH Global Asset Management LLC now owns 2,354 shares of the software company's stock valued at $1,188,000 after purchasing an additional 616 shares during the period. TTP Investments Inc. increased its holdings in Adobe by 22.0% during the 1st quarter. TTP Investments Inc. now owns 5,129 shares of the software company's stock worth $2,588,000 after purchasing an additional 926 shares in the last quarter. Finally, Condor Capital Management bought a new position in shares of Adobe in the first quarter valued at approximately $879,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn sold 6,500 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Adobe news, CAO Jillian Forusz sold 676 shares of the company's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel Durn sold 6,500 shares of the company's 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 owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is owned by company insiders.

Adobe Stock Up 1.2 %

ADBE traded up $6.08 on Wednesday, hitting $532.50. The company had a trading volume of 3,467,458 shares, compared to its average volume of 3,165,933. 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 stock has a market capitalization of $234.41 billion, a price-to-earnings ratio of 44.97, a P/E/G ratio of 2.71 and a beta of 1.30. The stock has a fifty day moving average price of $512.61 and a 200-day moving average price of $517.56. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, September 12th. The software company reported $4.65 EPS 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 during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the company posted $3.26 earnings per share. The company's revenue was up 10.6% compared to the same quarter last year. Analysts predict that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ADBE shares. StockNews.com raised Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 13th. Bank of America restated a "buy" rating and issued a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $610.00 target price on shares of Adobe in a research note on Tuesday, October 15th. Oppenheimer reissued an "outperform" rating and set a $625.00 price objective on shares of Adobe in a research report on Friday, September 13th. Finally, Morgan Stanley restated an "overweight" rating and set a $660.00 target price on shares of Adobe in a 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.