OneDigital Investment Advisors LLC Grows Position in Adobe Inc. (NASDAQ:ADBE)

OneDigital Investment Advisors LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,002 shares of the software company’s stock after purchasing an additional 104 shares during the period. OneDigital Investment Advisors LLC’s holdings in Adobe were worth $3,108,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Piscataqua Savings Bank increased its holdings in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Adobe in the second quarter worth approximately $33,000. Highline Wealth Partners LLC purchased a new stake in shares of Adobe in the third quarter worth $38,000. Lynx Investment Advisory bought a new stake in shares of Adobe during the 2nd quarter valued at $39,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Adobe during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent analyst reports. UBS Group decreased their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Stifel Nicolaus boosted their price target on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $660.00 price objective on shares of Adobe in a report on Friday, September 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, Sanford C. Bernstein reduced their price target on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the sale, the executive vice president now owns 18,831 shares of the company’s stock, valued at $9,675,744.42. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock worth $17,736,369 in the last quarter. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

ADBE stock opened at $503.37 on Friday. The stock has a market cap of $221.58 billion, a PE ratio of 42.51, a P/E/G ratio of 2.74 and a beta of 1.30. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a 50-day moving average price of $509.79 and a 200 day moving average price of $517.96. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last announced its 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. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.26 earnings per share. Equities research analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current 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.