Empirical Finance LLC Has $8.18 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Empirical Finance LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,798 shares of the software company’s stock after acquiring an additional 299 shares during the period. Empirical Finance LLC’s holdings in Adobe were worth $8,180,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after acquiring an additional 1,376,333 shares during the period. Swedbank AB acquired a new stake in shares of Adobe in the first quarter valued at approximately $621,179,000. Longview Partners Guernsey LTD bought a new stake in Adobe in the 2nd quarter valued at $663,745,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after purchasing an additional 1,146,718 shares during the period. Finally, BlueSpruce Investments LP raised its holdings in Adobe by 81.1% in the 1st quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock valued at $648,712,000 after acquiring an additional 575,675 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Trading Down 0.9 %

Shares of Adobe stock opened at $525.02 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $511.75 and a two-hundred day moving average of $517.67. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The stock has a market cap of $231.11 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 2.74 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results 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 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 analyst estimates of $5.37 billion. During the same quarter last year, the business earned $3.26 EPS. Adobe’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Morgan Stanley restated an “overweight” rating and set a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein cut their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Citigroup increased their price objective on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Finally, Oppenheimer reissued an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Insider Buying and Selling

In related news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value 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. This trade represents a 23.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 1,530 shares of Adobe 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 transaction, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,187 shares of company stock worth $17,736,369. Corporate insiders own 0.15% of the company’s stock.

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.