Benjamin F. Edwards & Company Inc. raised its holdings in Adobe Inc (NASDAQ:ADBE) by 67.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,576 shares of the software company’s stock after purchasing an additional 637 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Adobe were worth $435,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADBE. Marquette Asset Management LLC boosted 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 acquiring an additional 48 shares in the last quarter. JNBA Financial Advisors boosted 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 acquiring an additional 80 shares in the last quarter. Manchester Financial Inc. purchased a new stake in shares of Adobe in the second quarter valued at about $28,000. Ellis Investment Partners LLC purchased a new stake in shares of Adobe in the second quarter valued at about $30,000. Finally, JJJ Advisors Inc. purchased a new stake in shares of Adobe in the third quarter valued at about $28,000. Institutional investors own 86.65% of the company’s stock.

In other Adobe news, CMO Ann Lewnes sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $274.34, for a total value of $823,020.00. Following the sale, the chief marketing officer now owns 52,398 shares of the company’s stock, valued at $14,374,867.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 9,000 shares of company stock worth $2,500,110 in the last ninety days. Insiders own 0.32% of the company’s stock.

Several brokerages have recently weighed in on ADBE. BidaskClub downgraded shares of Adobe from a “sell” rating to a “strong sell” rating in a report on Saturday, October 19th. Barclays lowered their target price on shares of Adobe from $330.00 to $325.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. JMP Securities reaffirmed a “hold” rating on shares of Adobe in a report on Wednesday, September 18th. Wells Fargo & Co lifted their target price on shares of Adobe from $275.00 to $285.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group lifted their target price on shares of Adobe from $340.00 to $350.00 in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. Adobe has an average rating of “Hold” and an average target price of $304.88.

Shares of NASDAQ ADBE opened at $293.54 on Thursday. Adobe Inc has a 12-month low of $204.95 and a 12-month high of $313.11. The company has a market capitalization of $141.57 billion, a PE ratio of 52.89, a price-to-earnings-growth ratio of 2.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.74. The firm’s 50-day moving average is $276.30 and its two-hundred day moving average is $284.74.

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

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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