Cantillon Capital Management LLC Purchases 79,898 Shares of Adobe Inc. (NASDAQ:ADBE)

Cantillon Capital Management LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 18.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 519,627 shares of the software company’s stock after buying an additional 79,898 shares during the quarter. Cantillon Capital Management LLC’s holdings in Adobe were worth $269,052,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ADBE. Piscataqua Savings Bank raised its holdings in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Adobe during the 3rd quarter worth about $30,000. Summit Securities Group LLC acquired a new position in shares of Adobe during the 2nd quarter worth about $33,000. Lynx Investment Advisory bought a new position in shares of Adobe in the 2nd quarter valued at about $39,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Adobe in the second quarter valued at about $39,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 0.8 %

NASDAQ ADBE opened at $499.51 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a market cap of $219.88 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 2.59 and a beta of 1.30. The company has a 50 day moving average of $508.38 and a 200-day moving average of $518.85. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.26 EPS. On average, equities research analysts expect that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 6.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock valued at $17,736,369 over the last quarter. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ADBE shares. Sanford C. Bernstein decreased their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Citigroup boosted their target price on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Morgan Stanley reiterated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a research note on Friday, September 13th. UBS Group dropped their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $610.00 price target on shares of Adobe in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe Company 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.