Quantinno Capital Management LP Increases Stock Position in Adobe Inc. (NASDAQ:ADBE)

Quantinno Capital Management LP raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 34.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,843 shares of the software company’s stock after purchasing an additional 11,333 shares during the quarter. Quantinno Capital Management LP’s holdings in Adobe were worth $22,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ADBE. BDF Gestion purchased a new stake in Adobe in the 2nd quarter valued at approximately $7,352,000. CCM Investment Advisers LLC boosted its stake in shares of Adobe by 5.9% during the 2nd quarter. CCM Investment Advisers LLC now owns 27,727 shares of the software company’s stock worth $15,404,000 after acquiring an additional 1,556 shares in the last quarter. OLD National Bancorp IN boosted its stake in shares of Adobe by 3.2% during the 2nd quarter. OLD National Bancorp IN now owns 44,027 shares of the software company’s stock worth $24,459,000 after acquiring an additional 1,380 shares in the last quarter. CHICAGO TRUST Co NA boosted its stake in shares of Adobe by 8.2% during the 2nd quarter. CHICAGO TRUST Co NA now owns 5,392 shares of the software company’s stock worth $2,995,000 after acquiring an additional 410 shares in the last quarter. Finally, Cambridge Advisors Inc. boosted its stake in shares of Adobe by 48.0% during the 2nd quarter. Cambridge Advisors Inc. now owns 592 shares of the software company’s stock worth $329,000 after acquiring an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 3.9 %

ADBE stock opened at $536.49 on Thursday. The company has a market cap of $236.16 billion, a price-to-earnings ratio of 45.31, a PEG ratio of 2.35 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $502.99 and a 200-day simple moving average of $521.07. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25.

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. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.26 EPS. On average, equities research analysts expect that Adobe Inc. will post 14.82 EPS for the current year.

Analyst Ratings Changes

ADBE has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $635.00 price target on shares of Adobe in a research note on Friday, September 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Barclays boosted their price target on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Bank of America reissued a “buy” rating and set a $640.00 price target on shares of Adobe in a research note on Friday, September 13th. Finally, Stifel Nicolaus boosted their price target on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $601.25.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction 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 approximately $186,569,166. This trade represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock worth $17,736,369 in the last ninety days. 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.