West Family Investments Inc. Has $660,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

West Family Investments Inc. lifted its position in Adobe Inc. (NASDAQ:ADBE) by 44.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,275 shares of the software company’s stock after purchasing an additional 393 shares during the quarter. West Family Investments Inc.’s holdings in Adobe were worth $660,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Onyx Bridge Wealth Group LLC grew its position in Adobe by 3.9% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after acquiring an additional 19 shares during the last quarter. HTLF Bank lifted its position in shares of Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after purchasing an additional 19 shares in the last quarter. Commonwealth Financial Services LLC increased its position in shares of Adobe by 3.7% during the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after purchasing an additional 19 shares during the last quarter. Orrstown Financial Services Inc. lifted its stake in Adobe by 0.9% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after purchasing an additional 20 shares during the last quarter. Finally, Orser Capital Management LLC lifted its stake in shares of Adobe by 0.3% during the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after buying an additional 20 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 1.1 %

Shares of NASDAQ:ADBE opened at $494.00 on Tuesday. The business has a 50-day moving average price of $508.38 and a 200-day moving average price of $518.85. The stock has a market cap of $217.46 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 2.59 and a beta of 1.30. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion for 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%. Adobe’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $3.26 earnings per share. Equities analysts predict that Adobe Inc. will post 14.82 EPS for the current year.

Analyst Ratings Changes

ADBE has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Citigroup upped their target price on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. UBS Group reduced their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Argus raised Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. The trade was a 23.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 6.53 % decrease in their ownership of the stock. 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 three months. 0.15% of the stock is owned by corporate insiders.

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.