United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Lowers Stake in Adobe Inc. (NASDAQ:ADBE)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,450 shares of the software company’s stock after selling 5,576 shares during the quarter. Adobe comprises 1.7% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s portfolio, making the stock its 22nd largest position. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Adobe were worth $42,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Piscataqua Savings Bank increased its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe during the second quarter valued at approximately $33,000. Highline Wealth Partners LLC purchased a new position in Adobe in the 3rd quarter worth approximately $38,000. Lynx Investment Advisory bought a new position in Adobe in the 2nd quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Adobe during the 2nd quarter valued at $39,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $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. Insiders have sold a total of 34,187 shares of company stock valued at $17,736,369 in the last 90 days. Insiders own 0.15% of the company’s stock.

Adobe Stock Up 1.4 %

NASDAQ:ADBE traded up $7.60 during trading hours on Wednesday, reaching $534.02. The company’s stock had a trading volume of 1,212,187 shares, compared to its average volume of 3,155,687. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $235.08 billion, a P/E ratio of 44.46, a price-to-earnings-growth ratio of 2.60 and a beta of 1.30. The stock has a 50 day moving average price of $512.61 and a two-hundred day moving average price of $517.56. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25.

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

Analyst Ratings Changes

ADBE has been the subject of several recent analyst reports. UBS Group decreased their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Morgan Stanley reissued an “overweight” rating and set a $660.00 price objective on shares of Adobe in a report on Friday, September 13th. Sanford C. Bernstein dropped their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Finally, Barclays boosted their target price on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.