First Allied Advisory Services Inc. increased its stake in shares of Adobe Inc (NASDAQ:ADBE) by 48.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,739 shares of the software company’s stock after acquiring an additional 3,182 shares during the period. First Allied Advisory Services Inc.’s holdings in Adobe were worth $2,697,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Marquette Asset Management LLC increased its stake in Adobe by 114.3% in the 2nd quarter. Marquette Asset Management LLC now owns 90 shares of the software company’s stock valued at $27,000 after buying an additional 48 shares during the last quarter. JNBA Financial Advisors increased its stake in Adobe by 666.7% in the 2nd quarter. JNBA Financial Advisors now owns 92 shares of the software company’s stock valued at $27,000 after buying an additional 80 shares during the last quarter. Manchester Financial Inc. acquired a new stake in Adobe in the 2nd quarter valued at $28,000. Ellis Investment Partners LLC acquired a new stake in Adobe in the 2nd quarter valued at $30,000. Finally, JJJ Advisors Inc. acquired a new stake in Adobe in the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Several equities research analysts have issued reports on the stock. Stifel Nicolaus reiterated a “neutral” rating and issued a $325.00 price target on shares of Adobe in a research note on Wednesday, September 18th. BMO Capital Markets lowered their price target on shares of Adobe from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Stephens set a $327.00 price target on shares of Adobe and gave the company a “buy” rating in a research note on Wednesday, September 18th. JMP Securities reiterated a “hold” rating on shares of Adobe in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Adobe from $318.00 to $322.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $304.88.

Adobe stock opened at $294.53 on Friday. The firm has a market capitalization of $141.22 billion, a PE ratio of 47.82, a P/E/G ratio of 2.81 and a beta of 1.09. The company’s 50-day moving average is $276.73 and its 200-day moving average is $284.83. Adobe Inc has a fifty-two week low of $204.95 and a fifty-two week high of $313.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.74.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.08. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.82 billion. Adobe had a net margin of 26.10% and a return on equity of 30.49%. Adobe’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. As a group, analysts expect that Adobe Inc will post 6.39 EPS for the current year.

In related news, EVP Ann Lewnes sold 3,000 shares of Adobe stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $289.32, for a total transaction of $867,960.00. Following the completion of the sale, the executive vice president now 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 Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 9,000 shares of company stock valued at $2,500,110 in the last ninety days. 0.32% of the stock is currently owned by insiders.

About Adobe

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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