Adobe Inc. (NASDAQ:ADBE) Shares Bought by One Capital Management LLC

One Capital Management LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 25.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,901 shares of the software company’s stock after acquiring an additional 4,415 shares during the quarter. One Capital Management LLC’s holdings in Adobe were worth $12,167,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ADBE. Dimensional Fund Advisors LP boosted its holdings in Adobe by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock valued at $945,780,000 after purchasing an additional 185,737 shares in the last quarter. Angeles Investment Advisors LLC boosted its stake in shares of Adobe by 62.0% in the second quarter. Angeles Investment Advisors LLC now owns 2,526 shares of the software company’s stock valued at $1,403,000 after buying an additional 967 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new position in Adobe during the second quarter worth $165,000. Brown Brothers Harriman & Co. raised its position in Adobe by 21.3% in the second quarter. Brown Brothers Harriman & Co. now owns 445,458 shares of the software company’s stock worth $247,470,000 after acquiring an additional 78,080 shares in the last quarter. Finally, Redwood Wealth Management Group LLC lifted its holdings in Adobe by 3.0% in the second quarter. Redwood Wealth Management Group LLC now owns 795 shares of the software company’s stock valued at $442,000 after acquiring an additional 23 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the completion of the sale, the chief executive officer now owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’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 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 SEC, which is accessible through the SEC website. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the sale, the executive vice president now owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. The disclosure for this sale can be found here. Insiders sold a total of 27,259 shares of company stock worth $14,855,543 in the last ninety days. Insiders own 0.15% of the company’s stock.

Adobe Stock Down 8.5 %

ADBE opened at $536.87 on Monday. The stock has a market capitalization of $238.05 billion, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50-day moving average of $553.76 and a two-hundred day moving average of $519.73.

Adobe (NASDAQ:ADBE) last released 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. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. Adobe’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.26 earnings per share. On average, research analysts expect that Adobe Inc. will post 14.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADBE. JPMorgan Chase & Co. upgraded shares of Adobe from a “neutral” rating to an “overweight” rating and increased their price target for the company from $570.00 to $580.00 in a report on Friday, June 14th. TD Cowen reduced their price target on shares of Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research report on Monday, June 10th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Adobe in a report on Friday. Finally, Bank of America reissued a “buy” rating and issued a $640.00 target price on shares of Adobe in a report on Friday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $606.58.

About Adobe

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.