Adobe Inc. (NASDAQ:ADBE) Shares Bought by Hamilton Point Investment Advisors LLC

Hamilton Point Investment Advisors LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,876 shares of the software company’s stock after buying an additional 400 shares during the period. Adobe accounts for about 1.8% of Hamilton Point Investment Advisors LLC’s portfolio, making the stock its 14th largest holding. Hamilton Point Investment Advisors LLC’s holdings in Adobe were worth $10,291,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ADBE. Onyx Bridge Wealth Group LLC raised its stake in Adobe by 3.9% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after acquiring an additional 19 shares during the last quarter. HTLF Bank increased its holdings in shares of Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares during the period. Commonwealth Financial Services LLC raised its stake in shares of Adobe by 3.7% during the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after purchasing an additional 19 shares during the last quarter. Orrstown Financial Services Inc. grew its position in Adobe by 0.9% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after buying an additional 20 shares during the last quarter. Finally, Orser Capital Management LLC increased its stake in Adobe by 0.3% in the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock valued at $3,815,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 1.5 %

NASDAQ ADBE opened at $512.15 on Friday. The company has a market cap of $225.45 billion, a P/E ratio of 43.26, a P/E/G ratio of 2.60 and a beta of 1.30. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50-day moving average of $503.13 and a 200-day moving average of $518.84.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping 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 business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm posted $3.26 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Adobe Inc. will post 14.82 earnings per share for the current year.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the sale, the executive vice president now directly owns 18,831 shares in the company, valued at $9,675,744.42. The trade was a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction 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 sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This trade represents a 23.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,187 shares of company stock valued at $17,736,369. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America restated a “buy” rating and issued a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price target on shares of Adobe in a report on Tuesday, October 15th. Finally, UBS Group dropped their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a report 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 issued a strong buy rating to the company. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and an average price target of $606.40.

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.