Mawer Investment Management Ltd. Purchases 112 Shares of Adobe Inc. (NASDAQ:ADBE)

Mawer Investment Management Ltd. increased its position in Adobe Inc. (NASDAQ:ADBE) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,072 shares of the software company’s stock after acquiring an additional 112 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Adobe were worth $55,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mather Group LLC. raised its holdings in Adobe by 23.7% in the 2nd quarter. Mather Group LLC. now owns 2,377 shares of the software company’s stock worth $1,392,000 after acquiring an additional 456 shares during the period. Private Advisor Group LLC raised its holdings in Adobe by 57.6% in the 3rd quarter. Private Advisor Group LLC now owns 36,371 shares of the software company’s stock worth $20,941,000 after acquiring an additional 13,300 shares during the period. Chicago Capital LLC increased its holdings in shares of Adobe by 5.8% during the 3rd quarter. Chicago Capital LLC now owns 5,624 shares of the software company’s stock worth $3,238,000 after purchasing an additional 308 shares during the period. Scharf Investments LLC increased its holdings in shares of Adobe by 20.7% during the 3rd quarter. Scharf Investments LLC now owns 3,559 shares of the software company’s stock worth $2,049,000 after purchasing an additional 610 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of Adobe by 6.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 115,221 shares of the software company’s stock worth $66,333,000 after purchasing an additional 7,267 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

In other Adobe news, CAO Mark S. Garfield sold 474 shares of the stock in a transaction on Monday, December 20th. The shares were sold at an average price of $545.61, for a total value of $258,619.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dana Rao sold 489 shares of the firm’s stock in a transaction dated Tuesday, October 26th. The stock was sold at an average price of $650.91, for a total transaction of $318,294.99. The disclosure for this sale can be found here. Insiders sold 4,379 shares of company stock valued at $2,507,566 in the last ninety days. Insiders own 0.23% of the company’s stock.

ADBE has been the topic of several research reports. The Goldman Sachs Group restated a “buy” rating and set a $765.00 price objective on shares of Adobe in a report on Tuesday, October 19th. Atlantic Securities upgraded shares of Adobe from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $600.00 to $820.00 in a report on Monday, November 22nd. Barclays dropped their price objective on shares of Adobe from $740.00 to $665.00 and set an “overweight” rating on the stock in a report on Friday, December 17th. Citigroup dropped their price objective on shares of Adobe from $678.00 to $611.00 and set a “neutral” rating on the stock in a report on Monday, December 20th. Finally, Morgan Stanley dropped their price objective on shares of Adobe from $736.00 to $652.00 and set an “overweight” rating on the stock in a report on Friday, December 17th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Adobe has an average rating of “Buy” and a consensus target price of $666.56.

Shares of ADBE stock traded down $0.10 during trading hours on Friday, reaching $516.80. 66,868 shares of the company were exchanged, compared to its average volume of 3,839,505. Adobe Inc. has a fifty-two week low of $420.78 and a fifty-two week high of $699.54. The stock’s fifty day moving average is $612.23 and its two-hundred day moving average is $620.22. The company has a market cap of $246.20 billion, a price-to-earnings ratio of 51.59, a P/E/G ratio of 2.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.25 and a quick ratio of 1.39.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 16th. The software company reported $3.20 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $3.20. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.09 billion. Adobe had a net margin of 30.55% and a return on equity of 36.06%. Adobe’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.42 earnings per share. On average, research analysts anticipate that Adobe Inc. will post 11.09 earnings per share for the current year.

Adobe Company Profile

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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