Chicago Capital LLC Purchases 325 Shares of Adobe Inc. (NASDAQ:ADBE)

Chicago Capital LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,599 shares of the software company’s stock after purchasing an additional 325 shares during the quarter. Chicago Capital LLC’s holdings in Adobe were worth $20,504,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of Adobe by 16.2% in the 1st quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock worth $1,435,000 after acquiring an additional 398 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in Adobe by 1.5% in the first quarter. Salem Investment Counselors Inc. now owns 2,232 shares of the software company’s stock worth $1,126,000 after purchasing an additional 33 shares during the last quarter. Steph & Co. boosted its position in Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after buying an additional 30 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of Adobe during the first quarter valued at about $63,000. Finally, CHICAGO TRUST Co NA increased its holdings in shares of Adobe by 3.2% in the first quarter. CHICAGO TRUST Co NA now owns 4,982 shares of the software company’s stock worth $2,514,000 after buying an additional 153 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of ADBE opened at $494.90 on Friday. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The firm’s 50-day simple moving average is $535.45 and its two-hundred day simple moving average is $515.78. The stock has a market cap of $219.44 billion, a PE ratio of 44.47, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the company earned $3.26 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares in the company, valued at approximately $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,608 shares of company stock valued at $17,486,391 in the last quarter. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADBE. Piper Sandler Companies restated an “overweight” rating and set a $635.00 target price on shares of Adobe in a report on Friday, July 12th. Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Bank of America reaffirmed a “buy” rating and issued a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Oppenheimer restated an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $606.40.

About Adobe

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.