HF Advisory Group LLC Has $1.45 Million Stake in Adobe Inc. (NASDAQ:ADBE)

HF Advisory Group LLC grew its position in Adobe Inc. (NASDAQ:ADBE) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,796 shares of the software company’s stock after buying an additional 76 shares during the quarter. HF Advisory Group LLC’s holdings in Adobe were worth $1,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Falcon Wealth Planning boosted its stake in Adobe by 3.6% in the third quarter. Falcon Wealth Planning now owns 1,214 shares of the software company’s stock valued at $629,000 after buying an additional 42 shares in the last quarter. NorthRock Partners LLC lifted its holdings in shares of Adobe by 9.3% in the third quarter. NorthRock Partners LLC now owns 4,651 shares of the software company’s stock worth $2,408,000 after acquiring an additional 397 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Adobe by 1.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 149,968 shares of the software company’s stock valued at $77,650,000 after purchasing an additional 1,464 shares in the last quarter. Heritage Investors Management Corp grew its holdings in shares of Adobe by 15.2% during the 3rd quarter. Heritage Investors Management Corp now owns 47,976 shares of the software company’s stock valued at $24,841,000 after purchasing an additional 6,314 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its position in Adobe by 7.3% during the 3rd quarter. Pittenger & Anderson Inc. now owns 3,005 shares of the software company’s stock worth $1,556,000 after purchasing an additional 205 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Adobe news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were 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 directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe 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 completion of the transaction, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. 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. 0.15% of the stock is owned by insiders.

Adobe Trading Up 1.1 %

ADBE opened at $486.42 on Wednesday. The company has a market cap of $214.12 billion, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 2.49 and a beta of 1.30. The company has a fifty day moving average price of $518.98 and a two-hundred day moving average price of $516.41. 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 Inc. has a 1-year low of $433.97 and a 1-year high of $638.25.

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 the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.26 EPS. Analysts predict that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of a number of research analyst reports. UBS Group cut their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Citigroup increased their target price on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.