Next Capital Management LLC Has $126,000 Holdings in Adobe Inc (NASDAQ:ADBE)

Next Capital Management LLC boosted its stake in Adobe Inc (NASDAQ:ADBE) by 123.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 426 shares of the software company’s stock after purchasing an additional 235 shares during the quarter. Next Capital Management LLC’s holdings in Adobe were worth $126,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Adobe by 0.7% during the first quarter. BlackRock Inc. now owns 32,843,461 shares of the software company’s stock worth $8,752,453,000 after acquiring an additional 213,902 shares in the last quarter. Janus Henderson Group PLC raised its stake in Adobe by 0.8% during the second quarter. Janus Henderson Group PLC now owns 8,017,961 shares of the software company’s stock worth $2,362,476,000 after acquiring an additional 60,035 shares in the last quarter. Northern Trust Corp raised its stake in Adobe by 1.2% during the first quarter. Northern Trust Corp now owns 6,156,195 shares of the software company’s stock worth $1,640,565,000 after acquiring an additional 72,473 shares in the last quarter. Clearbridge Investments LLC raised its stake in Adobe by 3.9% during the first quarter. Clearbridge Investments LLC now owns 3,833,064 shares of the software company’s stock worth $1,021,473,000 after acquiring an additional 143,157 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Adobe by 8.4% during the second quarter. Fisher Asset Management LLC now owns 3,106,820 shares of the software company’s stock worth $915,425,000 after acquiring an additional 240,339 shares in the last quarter. 86.37% of the stock is owned by institutional investors and hedge funds.

Several brokerages have commented on ADBE. Credit Suisse Group boosted their target price on Adobe from $300.00 to $325.00 and gave the stock a “positive” rating in a research note on Wednesday, June 19th. BidaskClub downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wedbush boosted their target price on Adobe from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 19th. Stephens raised Adobe from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $288.00 to $327.00 in a research note on Wednesday, June 19th. Finally, KeyCorp reissued a “hold” rating on shares of Adobe in a research note on Wednesday, June 19th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $301.69.



In related news, EVP Ann Lewnes sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $287.00, for a total value of $861,000.00. Following the sale, the executive vice president now directly owns 58,458 shares in the company, valued at $16,777,446. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles M. Geschke sold 13,795 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $289.96, for a total value of $3,999,998.20. The disclosure for this sale can be found here. Insiders sold 26,627 shares of company stock worth $7,829,264 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Shares of Adobe stock traded up $5.41 on Friday, hitting $288.12. The stock had a trading volume of 81,713 shares, compared to its average volume of 2,252,291. The stock has a 50 day moving average of $300.91 and a 200 day moving average of $277.68. Adobe Inc has a twelve month low of $204.95 and a twelve month high of $313.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $142.32 billion, a P/E ratio of 51.92, a PEG ratio of 2.66 and a beta of 1.08.

Adobe (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 18th. The software company reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.05. Adobe had a return on equity of 29.96% and a net margin of 26.25%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. Equities analysts expect that Adobe Inc will post 6.3 earnings per share for the current year.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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