Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Appleton Partners Inc. MA

Appleton Partners Inc. MA grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,882 shares of the software company’s stock after purchasing an additional 149 shares during the quarter. Adobe makes up about 1.3% of Appleton Partners Inc. MA’s holdings, making the stock its 16th biggest position. Appleton Partners Inc. MA’s holdings in Adobe were worth $16,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. OLD Mission Capital LLC purchased a new position in Adobe in the 3rd quarter valued at $217,000. Gladstone Institutional Advisory LLC grew its position in Adobe by 44.5% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 1,251 shares of the software company’s stock valued at $595,000 after buying an additional 385 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Adobe by 22.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 48,933 shares of the software company’s stock valued at $23,262,000 after buying an additional 9,108 shares during the last quarter. Pendal Group Limited grew its position in Adobe by 3.9% in the 1st quarter. Pendal Group Limited now owns 16,361 shares of the software company’s stock valued at $7,777,000 after buying an additional 607 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its position in Adobe by 95.2% in the 1st quarter. Capital Advisors Inc. OK now owns 943 shares of the software company’s stock valued at $448,000 after buying an additional 460 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors.

ADBE stock traded up $3.16 during trading on Thursday, hitting $668.32. The stock had a trading volume of 2,426,171 shares, compared to its average volume of 2,221,317. The company’s 50 day moving average price is $630.58 and its two-hundred day moving average price is $602.04. Adobe Inc. has a 1-year low of $420.78 and a 1-year high of $699.54. The stock has a market cap of $318.39 billion, a price-to-earnings ratio of 55.28, a price-to-earnings-growth ratio of 3.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.39.

Adobe (NASDAQ:ADBE) last announced its earnings results on Monday, September 20th. The software company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.10. Adobe had a net margin of 38.67% and a return on equity of 35.95%. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the company posted $2.12 EPS. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, sell-side analysts forecast that Adobe Inc. will post 10.52 earnings per share for the current fiscal year.

In other news, CEO Shantanu Narayen sold 40,000 shares of the company’s stock in a transaction dated Friday, September 24th. The shares were sold at an average price of $620.26, for a total transaction of $24,810,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Ann Lewnes sold 582 shares of the company’s stock in a transaction dated Tuesday, October 26th. The shares were sold at an average price of $650.91, for a total transaction of $378,829.62. The disclosure for this sale can be found here. Insiders sold a total of 44,155 shares of company stock valued at $27,445,489 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on ADBE shares. Jefferies Financial Group lifted their price objective on shares of Adobe from $750.00 to $760.00 and gave the company a “buy” rating in a research report on Wednesday, September 22nd. Cowen restated a “buy” rating and set a $700.00 target price on shares of Adobe in a research report on Wednesday, September 22nd. Barclays boosted their target price on shares of Adobe from $660.00 to $740.00 and gave the stock an “overweight” rating in a research report on Thursday, September 16th. The Goldman Sachs Group restated a “buy” rating and set a $765.00 target price on shares of Adobe in a research report on Tuesday, October 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Adobe from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 22nd. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of “Buy” and an average price target of $693.80.

About Adobe

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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