Plato Investment Management Ltd Has $6.77 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Plato Investment Management Ltd grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,080 shares of the software company’s stock after purchasing an additional 57 shares during the period. Adobe makes up 0.5% of Plato Investment Management Ltd’s investment portfolio, making the stock its 29th biggest holding. Plato Investment Management Ltd’s holdings in Adobe were worth $6,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADBE. Piscataqua Savings Bank increased its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Adobe during the second quarter valued at about $33,000. Lynx Investment Advisory bought a new stake in shares of Adobe during the second quarter worth about $39,000. Hobbs Group Advisors LLC acquired a new stake in shares of Adobe in the 2nd quarter worth about $39,000. Finally, Highline Wealth Partners LLC bought a new position in Adobe in the 3rd quarter valued at about $38,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 676 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock valued at $17,736,369 over the last three months. Company insiders own 0.15% of the company’s stock.

Adobe Trading Up 1.2 %

Shares of Adobe stock opened at $532.50 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $234.41 billion, a P/E ratio of 44.97, a P/E/G ratio of 2.71 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 stock’s 50-day simple moving average is $512.61 and its 200 day simple moving average is $517.56.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the company posted $3.26 EPS. Adobe’s revenue was up 10.6% compared to the same quarter last year. As a group, research analysts anticipate that Adobe Inc. will post 14.82 EPS for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of recent research reports. Morgan Stanley reissued an “overweight” rating and set a $660.00 price objective on shares of Adobe in a report on Friday, September 13th. Stifel Nicolaus upped 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. Oppenheimer reissued an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Argus raised shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $606.40.

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.