Adobe Inc (NASDAQ:ADBE) Holdings Lowered by Mondrian Capital Management LLC

Mondrian Capital Management LLC trimmed its stake in Adobe Inc (NASDAQ:ADBE) by 25.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,000 shares of the software company’s stock after selling 8,500 shares during the period. Adobe makes up 3.6% of Mondrian Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. Mondrian Capital Management LLC’s holdings in Adobe were worth $7,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ADBE. Forbes J M & Co. LLP grew its position in Adobe by 9.9% during the 2nd quarter. Forbes J M & Co. LLP now owns 55,978 shares of the software company’s stock worth $16,494,000 after purchasing an additional 5,037 shares during the last quarter. Clarius Group LLC grew its position in Adobe by 13.5% during the 2nd quarter. Clarius Group LLC now owns 2,890 shares of the software company’s stock worth $851,000 after purchasing an additional 344 shares during the last quarter. Employers Holdings Inc. purchased a new position in Adobe during the 2nd quarter worth $442,000. Capital Wealth Planning LLC purchased a new position in Adobe during the 2nd quarter worth $1,465,000. Finally, Icon Advisers Inc. Co. grew its position in Adobe by 26.5% during the 2nd quarter. Icon Advisers Inc. Co. now owns 27,831 shares of the software company’s stock worth $8,200,000 after purchasing an additional 5,832 shares during the last quarter. 86.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ADBE traded up $5.24 during midday trading on Friday, hitting $287.95. The company had a trading volume of 101,604 shares, compared to its average volume of 2,252,291. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.10. Adobe Inc has a twelve month low of $204.95 and a twelve month high of $313.11. The business has a 50-day simple moving average of $300.91 and a two-hundred day simple moving average of $277.68. The firm has a market capitalization of $142.32 billion, a price-to-earnings ratio of 51.77, a price-to-earnings-growth ratio of 2.66 and a beta of 1.08.



Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 net margin of 26.25% and a return on equity of 29.96%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the business earned $1.66 earnings per share. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities analysts forecast that Adobe Inc will post 6.3 EPS for the current year.

Several research analysts have issued reports on ADBE shares. JPMorgan Chase & Co. raised their price objective on shares of Adobe from $284.00 to $329.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 19th. Stephens raised shares of Adobe from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $288.00 to $327.00 in a report on Wednesday, June 19th. Canaccord Genuity lifted their target price on shares of Adobe from $300.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 19th. Morgan Stanley raised shares of Adobe from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $282.00 to $340.00 in a report on Monday, April 29th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Adobe in a report on Wednesday, June 19th. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Adobe currently has an average rating of “Buy” and an average target price of $301.69.

In other Adobe news, EVP Ann Lewnes sold 3,000 shares of Adobe stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $287.00, for a total transaction of $861,000.00. Following the completion of the transaction, the executive vice president now owns 58,458 shares in the company, valued at $16,777,446. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dana Rao sold 2,832 shares of Adobe stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $303.36, for a total transaction of $859,115.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,627 shares of company stock valued at $7,829,264. 0.32% of the stock is currently owned by company insiders.

About Adobe

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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