Fairfield Financial Advisors LTD Purchases 25 Shares of Adobe Inc. (NASDAQ:ADBE)

Fairfield Financial Advisors LTD increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 8.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 322 shares of the software company’s stock after buying an additional 25 shares during the quarter. Fairfield Financial Advisors LTD’s holdings in Adobe were worth $167,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cordatus Wealth Management LLC lifted its position in shares of Adobe by 1.3% in the third quarter. Cordatus Wealth Management LLC now owns 9,011 shares of the software company’s stock valued at $4,666,000 after buying an additional 120 shares during the last quarter. United Asset Strategies Inc. lifted its position in shares of Adobe by 26.7% in the third quarter. United Asset Strategies Inc. now owns 32,158 shares of the software company’s stock valued at $16,651,000 after buying an additional 6,775 shares during the last quarter. US Bancorp DE lifted its position in shares of Adobe by 0.6% in the third quarter. US Bancorp DE now owns 250,937 shares of the software company’s stock valued at $129,930,000 after buying an additional 1,508 shares during the last quarter. Nikulski Financial Inc. lifted its position in shares of Adobe by 150.2% in the third quarter. Nikulski Financial Inc. now owns 2,149 shares of the software company’s stock valued at $1,113,000 after buying an additional 1,290 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its position in shares of Adobe by 31.4% in the third quarter. Meitav Investment House Ltd. now owns 165,781 shares of the software company’s stock valued at $86,164,000 after buying an additional 39,658 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Adobe news, 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were 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 owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,511 shares of company stock worth $17,408,530 in the last 90 days. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADBE shares. Argus raised Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Oppenheimer reissued an “outperform” rating and set a $625.00 price target on shares of Adobe in a report on Friday, September 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Sanford C. Bernstein dropped their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Finally, Morgan Stanley reissued an “overweight” rating and set a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Price Performance

Shares of ADBE traded down $7.85 during midday trading on Thursday, hitting $478.83. The company’s stock had a trading volume of 842,853 shares, compared to its average volume of 3,167,675. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company’s fifty day simple moving average is $525.27 and its two-hundred day simple moving average is $515.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $212.31 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the company posted $3.26 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that Adobe Inc. will post 14.8 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.