Adobe Inc (NASDAQ:ADBE) Shares Purchased by Squar Milner Financial Services LLC

Squar Milner Financial Services LLC increased its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 12.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,330 shares of the software company’s stock after buying an additional 149 shares during the period. Squar Milner Financial Services LLC’s holdings in Adobe were worth $367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADBE. Park National Corp OH raised its stake in Adobe by 19.2% during the second quarter. Park National Corp OH now owns 44,995 shares of the software company’s stock worth $13,258,000 after acquiring an additional 7,257 shares during the period. Private Trust Co. NA raised its stake in Adobe by 12.5% during the second quarter. Private Trust Co. NA now owns 6,018 shares of the software company’s stock worth $1,773,000 after acquiring an additional 669 shares during the period. Private Asset Management Inc. raised its stake in Adobe by 3.4% during the second quarter. Private Asset Management Inc. now owns 1,500 shares of the software company’s stock worth $442,000 after acquiring an additional 50 shares during the period. Dorsey Wright & Associates raised its stake in Adobe by 0.5% during the second quarter. Dorsey Wright & Associates now owns 22,559 shares of the software company’s stock worth $6,647,000 after acquiring an additional 107 shares during the period. Finally, Fulton Bank N.A. raised its stake in Adobe by 5.9% during the second quarter. Fulton Bank N.A. now owns 1,337 shares of the software company’s stock worth $394,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 86.35% of the company’s stock.

NASDAQ ADBE traded down $0.63 on Wednesday, hitting $260.46. The stock had a trading volume of 1,877,939 shares, compared to its average volume of 2,943,384. Adobe Inc has a one year low of $204.95 and a one year high of $313.11. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.10. The stock has a market cap of $129.17 billion, a price-to-earnings ratio of 46.93, a P/E/G ratio of 2.57 and a beta of 1.09. The company’s 50-day moving average is $276.58 and its two-hundred day moving average is $283.81.

Adobe (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 17th. The software company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.97 by $0.08. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Adobe had a net margin of 26.10% and a return on equity of 30.49%. Adobe’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 EPS. On average, sell-side analysts anticipate that Adobe Inc will post 6.39 earnings per share for the current year.

Several equities research analysts recently weighed in on the stock. Credit Suisse Group set a $325.00 price objective on shares of Adobe and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stifel Nicolaus reiterated a “neutral” rating and set a $325.00 price objective on shares of Adobe in a research note on Wednesday, September 18th. BMO Capital Markets dropped their price objective on shares of Adobe from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday. ValuEngine lowered shares of Adobe from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, Nomura decreased their target price on shares of Adobe from $315.00 to $310.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $301.04.

In other news, EVP Dana Rao sold 2,832 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $303.36, for a total value of $859,115.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Lewnes sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $289.32, for a total transaction of $867,960.00. Following the completion of the transaction, the executive vice president now owns 55,198 shares of the company’s stock, valued at $15,969,885.36. The disclosure for this sale can be found here. Insiders sold 11,832 shares of company stock valued at $3,359,226 over the last quarter. Insiders own 0.32% of the company’s stock.

Adobe 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.

Further Reading: How do CD ladders protect against rising interest rates?

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc (NASDAQ:ADBE).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.