Centaurus Financial Inc. increased its position in Adobe Inc. (NASDAQ:ADBE – Get Rating) by 27.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,110 shares of the software company’s stock after purchasing an additional 675 shares during the quarter. Centaurus Financial Inc.’s holdings in Adobe were worth $856,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Adobe by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 39,170,306 shares of the software company’s stock worth $10,779,668,000 after buying an additional 146,288 shares during the period. State Street Corp grew its position in shares of Adobe by 0.4% during the 3rd quarter. State Street Corp now owns 18,620,262 shares of the software company’s stock worth $5,124,296,000 after buying an additional 71,250 shares during the period. Polen Capital Management LLC grew its position in shares of Adobe by 1.1% during the 3rd quarter. Polen Capital Management LLC now owns 6,930,964 shares of the software company’s stock worth $1,907,401,000 after buying an additional 76,097 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Adobe by 7.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,424,266 shares of the software company’s stock worth $2,351,667,000 after buying an additional 435,380 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Adobe by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,625,238 shares of the software company’s stock valued at $1,327,056,000 after purchasing an additional 22,791 shares during the period. 79.36% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently issued reports on ADBE. JPMorgan Chase & Co. boosted their price objective on Adobe from $365.00 to $380.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley boosted their price objective on Adobe from $382.00 to $385.00 and gave the company an “equal weight” rating in a research report on Thursday. Mizuho boosted their price objective on Adobe from $370.00 to $375.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on Adobe from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, December 16th. Finally, Wolfe Research decreased their price objective on Adobe from $440.00 to $420.00 in a research report on Thursday. Sixteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $415.70.
Insider Buying and Selling
Adobe Stock Up 1.4 %
ADBE stock opened at $358.14 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $164.24 billion, a PE ratio of 35.46, a PEG ratio of 2.08 and a beta of 1.27. Adobe Inc. has a 1-year low of $274.73 and a 1-year high of $473.49. The business’s 50 day simple moving average is $353.24 and its 200 day simple moving average is $334.18.
Adobe (NASDAQ:ADBE – Get Rating) last posted its earnings results on Wednesday, March 15th. The software company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.12. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.62 billion. Adobe had a return on equity of 36.74% and a net margin of 27.01%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.84 EPS. As a group, research analysts anticipate that Adobe Inc. will post 12.15 EPS for the current year.
Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.
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