Haverford Trust Co. Has $254,000 Position in Adobe Inc (NASDAQ:ADBE)

Haverford Trust Co. lifted its stake in Adobe Inc (NASDAQ:ADBE) by 31.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 921 shares of the software company’s stock after purchasing an additional 219 shares during the period. Haverford Trust Co.’s holdings in Adobe were worth $254,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Marquette Asset Management LLC increased its holdings in shares of Adobe by 114.3% in the second quarter. Marquette Asset Management LLC now owns 90 shares of the software company’s stock valued at $27,000 after purchasing an additional 48 shares in the last quarter. JNBA Financial Advisors increased its holdings in shares of Adobe by 666.7% in the second quarter. JNBA Financial Advisors now owns 92 shares of the software company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. Manchester Financial Inc. acquired a new stake in shares of Adobe in the second quarter valued at approximately $28,000. Ellis Investment Partners LLC acquired a new stake in shares of Adobe in the second quarter valued at approximately $30,000. Finally, JJJ Advisors Inc. acquired a new stake in shares of Adobe in the third quarter valued at approximately $28,000. 86.60% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Ann Lewnes sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $289.32, for a total value of $867,960.00. Following the sale, the executive vice president now directly owns 55,198 shares of the company’s stock, valued at approximately $15,969,885.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 9,000 shares of company stock worth $2,500,110. 0.32% of the stock is owned by insiders.

A number of analysts recently weighed in on the stock. Nomura lowered their price target on shares of Adobe from $315.00 to $310.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. BMO Capital Markets lowered their target price on shares of Adobe from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Griffin Securities lifted their target price on shares of Adobe from $303.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Jefferies Financial Group lifted their target price on shares of Adobe from $340.00 to $350.00 in a report on Tuesday, November 5th. Finally, Wells Fargo & Co lifted their target price on shares of Adobe from $275.00 to $285.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. Adobe currently has a consensus rating of “Hold” and an average target price of $304.88.

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

Shares of ADBE stock traded up $1.69 on Friday, hitting $292.46. The stock had a trading volume of 1,628,400 shares, compared to its average volume of 2,747,625. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average price of $275.11 and a two-hundred day moving average price of $284.38. The firm has a market cap of $140.04 billion, a P/E ratio of 52.70, a PEG ratio of 2.79 and a beta of 1.09. Adobe Inc has a twelve month low of $204.95 and a twelve month high of $313.11.

Adobe (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.08. The company had revenue of $2.83 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. On average, analysts expect that Adobe Inc will post 6.39 earnings per share for the current year.

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.

See Also: What is the Coverage Ratio?

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)

Leave a Reply

Your email address will not be published. Required fields are marked *

*