Adobe Inc. (NASDAQ:ADBE) Shares Acquired by GQG Partners LLC

GQG Partners LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,485,642 shares of the software company’s stock after acquiring an additional 35,563 shares during the period. Adobe accounts for approximately 2.6% of GQG Partners LLC’s investment portfolio, making the stock its 19th biggest holding. GQG Partners LLC owned approximately 0.31% of Adobe worth $869,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ADBE. Lone Pine Capital LLC raised its position in shares of Adobe by 29.8% during the 1st quarter. Lone Pine Capital LLC now owns 2,622,406 shares of the software company’s stock worth $1,246,613,000 after acquiring an additional 601,668 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Adobe by 7.8% during the 1st quarter. Janus Henderson Group PLC now owns 7,268,925 shares of the software company’s stock worth $3,455,410,000 after acquiring an additional 527,558 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Adobe by 208.5% during the 1st quarter. Lazard Asset Management LLC now owns 740,233 shares of the software company’s stock worth $351,883,000 after acquiring an additional 500,297 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Adobe by 22.2% during the 1st quarter. Brown Advisory Inc. now owns 2,330,808 shares of the software company’s stock worth $1,107,996,000 after acquiring an additional 422,896 shares in the last quarter. Finally, Edgewood Management LLC raised its position in shares of Adobe by 8.8% during the 1st quarter. Edgewood Management LLC now owns 4,942,955 shares of the software company’s stock worth $2,349,733,000 after acquiring an additional 401,219 shares in the last quarter. 81.67% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director John E. Warnock sold 3,000 shares of the company’s stock in a transaction on Friday, September 24th. The stock was sold at an average price of $628.03, for a total value of $1,884,090.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 40,000 shares of the company’s stock in a transaction on Friday, September 24th. The shares were sold at an average price of $620.26, for a total value of $24,810,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,779 shares of company stock valued at $27,799,424. Insiders own 0.23% of the company’s stock.

ADBE traded up $15.03 during trading on Thursday, reaching $606.15. 56,094 shares of the stock were exchanged, compared to its average volume of 2,271,084. The business’s 50 day moving average price is $629.27 and its two-hundred day moving average price is $570.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $288.77 billion, a price-to-earnings ratio of 52.33, a P/E/G ratio of 3.42 and a beta of 0.97. Adobe Inc. has a 1 year low of $420.78 and a 1 year high of $673.88.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Monday, September 20th. The software company reported $3.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.10. Adobe had a return on equity of 35.94% and a net margin of 38.79%. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, analysts anticipate that Adobe Inc. will post 10.28 EPS for the current year.

Several research analysts have commented on the company. Wells Fargo & Company assumed coverage on Adobe in a research report on Monday, September 20th. They set an “overweight” rating and a $770.00 price target on the stock. Jefferies Financial Group lifted their price target on Adobe from $750.00 to $760.00 and gave the stock a “buy” rating in a research report on Wednesday, September 22nd. UBS Group lifted their price target on Adobe from $625.00 to $690.00 and gave the stock a “buy” rating in a research report on Wednesday, September 22nd. Cowen reaffirmed a “buy” rating and set a $700.00 price target on shares of Adobe in a research report on Wednesday, September 22nd. Finally, Morgan Stanley lifted their price target on Adobe from $610.00 to $736.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 15th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $679.57.

Adobe Profile

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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