Diversified Trust Co Purchases 263 Shares of Adobe Inc. (NASDAQ:ADBE)

Diversified Trust Co grew its position in Adobe Inc. (NASDAQ:ADBE) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,816 shares of the software company’s stock after acquiring an additional 263 shares during the quarter. Diversified Trust Co’s holdings in Adobe were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ADBE. Vanguard Group Inc. raised its position in Adobe by 1.0% during the first quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock valued at $20,511,473,000 after purchasing an additional 382,803 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Adobe by 17.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock valued at $3,857,189,000 after purchasing an additional 1,146,718 shares during the last quarter. Norges Bank bought a new position in shares of Adobe during the 4th quarter valued at approximately $3,277,785,000. Fisher Asset Management LLC lifted its position in Adobe by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 4,560,086 shares of the software company’s stock worth $2,720,548,000 after buying an additional 16,379 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Adobe by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,602,297 shares of the software company’s stock worth $1,552,530,000 after buying an additional 66,180 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,579,186.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Adobe news, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,579,186.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction on Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the completion of the sale, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at $1,439,897.40. The disclosure for this sale can be found here. Insiders have sold 27,523 shares of company stock worth $14,994,277 in the last ninety days. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on Adobe from $630.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Sanford C. Bernstein increased their target price on Adobe from $653.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Melius lowered shares of Adobe from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Monday, June 10th. BMO Capital Markets raised their price target on shares of Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Finally, StockNews.com cut shares of Adobe from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $601.38.

Adobe Price Performance

NASDAQ ADBE traded up $4.21 on Wednesday, hitting $539.43. The company had a trading volume of 117,036 shares, compared to its average volume of 3,311,804. 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 company’s fifty day moving average price is $531.91 and its 200-day moving average price is $523.87. The company has a market capitalization of $239.18 billion, a PE ratio of 48.09, a PEG ratio of 2.85 and a beta of 1.30. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.39 by $0.09. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 earnings per share. As a group, analysts predict that Adobe Inc. will post 14.69 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.