GenTrust LLC Makes New $290,000 Investment in Adobe Inc. (NASDAQ:ADBE)

GenTrust LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the third quarter, Holdings Channel reports. The fund bought 561 shares of the software company’s stock, valued at approximately $290,000.

A number of other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after acquiring an additional 1,376,333 shares during the last quarter. Swedbank AB acquired a new stake in shares of Adobe during the first quarter valued at about $621,179,000. Longview Partners Guernsey LTD acquired a new stake in shares of Adobe during the second quarter valued at about $663,745,000. BlueSpruce Investments LP increased its position in shares of Adobe by 81.1% during the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock valued at $648,712,000 after acquiring an additional 575,675 shares during the last quarter. Finally, Liberty Wealth Management LLC increased its position in shares of Adobe by 55,496.6% during the second quarter. Liberty Wealth Management LLC now owns 572,645 shares of the software company’s stock valued at $318,127,000 after acquiring an additional 571,615 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Up 1.5 %

Shares of NASDAQ:ADBE opened at $512.15 on Friday. The firm has a 50 day simple moving average of $503.13 and a 200-day simple moving average of $519.03. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The company has a market capitalization of $225.45 billion, a PE ratio of 43.26, a P/E/G ratio of 2.60 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

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

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research reports. Stifel Nicolaus lifted their price objective on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Morgan Stanley restated an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a report on Friday, September 13th. Piper Sandler restated an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a report on Friday, September 13th. Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Finally, Oppenheimer restated an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. This represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock worth $17,736,369 in the last 90 days. 0.15% of the stock is owned by insiders.

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.