Caprock Group LLC Purchases 387 Shares of Adobe Inc. (NASDAQ:ADBE)

Caprock Group LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,026 shares of the software company’s stock after purchasing an additional 387 shares during the period. Caprock Group LLC’s holdings in Adobe were worth $9,334,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pathstone Holdings LLC grew its stake in Adobe by 2.8% in the 3rd quarter. Pathstone Holdings LLC now owns 70,392 shares of the software company’s stock worth $36,448,000 after acquiring an additional 1,938 shares in the last quarter. Aviance Capital Partners LLC grew its stake in Adobe by 1.1% in the third quarter. Aviance Capital Partners LLC now owns 3,354 shares of the software company’s stock worth $1,737,000 after purchasing an additional 38 shares in the last quarter. Baron Wealth Management LLC purchased a new position in Adobe during the 3rd quarter worth $215,000. Nixon Peabody Trust Co. raised its position in Adobe by 15.6% during the 3rd quarter. Nixon Peabody Trust Co. now owns 786 shares of the software company’s stock valued at $407,000 after purchasing an additional 106 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of Adobe by 0.8% in the 3rd quarter. Meeder Advisory Services Inc. now owns 9,034 shares of the software company’s stock worth $4,677,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ADBE shares. Citigroup upped their price objective on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Bank of America restated a “buy” rating and set a $640.00 price objective on shares of Adobe in a research note on Friday, September 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, Argus upgraded shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Two equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Trading Down 0.8 %

ADBE stock opened at $499.51 on Tuesday. 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 Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The company’s 50-day simple moving average is $508.38 and its 200-day simple moving average is $518.85. The firm has a market cap of $219.88 billion, a P/E ratio of 42.19, a PEG ratio of 2.59 and a beta of 1.30.

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

Insiders Place Their Bets

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was 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 directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 6.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. The trade was a 23.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock valued at $17,736,369 in the last 90 days. 0.15% of the stock is owned by 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.