Hudson Value Partners LLC Invests $244,000 in Adobe Inc. (NASDAQ:ADBE)

Hudson Value Partners LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the third quarter, HoldingsChannel.com reports. The fund acquired 472 shares of the software company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its holdings in shares of Adobe by 98.7% in the 3rd quarter. ARK Investment Management LLC now owns 151 shares of the software company’s stock worth $78,000 after acquiring an additional 75 shares during the period. Portside Wealth Group LLC boosted its position in shares of Adobe by 26.1% in the 3rd quarter. Portside Wealth Group LLC now owns 13,763 shares of the software company’s stock worth $7,126,000 after buying an additional 2,847 shares in the last quarter. JB Capital LLC grew its stake in Adobe by 25.4% in the 3rd quarter. JB Capital LLC now owns 677 shares of the software company’s stock valued at $351,000 after acquiring an additional 137 shares during the last quarter. Keudell Morrison Wealth Management increased its holdings in Adobe by 4.7% during the 3rd quarter. Keudell Morrison Wealth Management now owns 2,661 shares of the software company’s stock valued at $1,378,000 after acquiring an additional 120 shares in the last quarter. Finally, Valley Brook Capital Group Inc. lifted its holdings in shares of Adobe by 5.1% in the third quarter. Valley Brook Capital Group Inc. now owns 2,329 shares of the software company’s stock valued at $1,206,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock opened at $500.92 on Friday. The firm has a fifty day simple moving average of $517.87 and a 200-day simple moving average of $516.33. The company has a market capitalization of $220.50 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last released its quarterly 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. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the firm posted $3.26 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADBE shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $610.00 target price on shares of Adobe in a research note on Tuesday, October 15th. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. UBS Group decreased their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Sanford C. Bernstein cut their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Finally, Bank of America restated a “buy” rating and set a $640.00 target price on shares of Adobe in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insider Transactions at Adobe

In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s 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 sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction dated 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 transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is currently 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.