Capital International Inc. CA Has $9.90 Million Position in Adobe Inc. (NASDAQ:ADBE)

Capital International Inc. CA decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,609 shares of the software company’s stock after selling 318 shares during the period. Capital International Inc. CA’s holdings in Adobe were worth $9,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ADBE. Tradewinds Capital Management LLC raised its position in shares of Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Salomon & Ludwin LLC increased its stake in shares of Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Adobe during the 4th quarter valued at $35,000. Steph & Co. boosted its stake in Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after acquiring an additional 30 shares in the last quarter. Finally, LifeSteps Financial Inc. acquired a new stake in Adobe in the first quarter worth $47,000. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADBE. Melius lowered shares of Adobe from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Monday, June 10th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, June 14th. StockNews.com cut Adobe from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Sanford C. Bernstein upped their target price on Adobe from $653.00 to $660.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Wells Fargo & Company lifted their price target on shares of Adobe from $675.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $603.33.

Adobe Price Performance

ADBE stock traded up $10.29 during mid-day trading on Friday, reaching $542.44. 2,089,566 shares of the company traded hands, compared to its average volume of 3,431,273. The company has a fifty day moving average price of $516.90 and a 200-day moving average price of $530.77. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The company has a market capitalization of $240.52 billion, a P/E ratio of 48.74, a P/E/G ratio of 2.77 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the business earned $3.04 earnings per share. Adobe’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that Adobe Inc. will post 14.69 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,501,989. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $544.11, for a total value of $13,602,750.00. Following the completion of the transaction, the chief executive officer now directly owns 379,660 shares in the company, valued at approximately $206,576,802.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,236 shares of company stock worth $16,281,053. Corporate 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.