Decatur Capital Management Inc. Purchases 137 Shares of Adobe Inc. (NASDAQ:ADBE)

Decatur Capital Management Inc. lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,575 shares of the software company’s stock after buying an additional 137 shares during the quarter. Adobe comprises 1.5% of Decatur Capital Management Inc.’s holdings, making the stock its 20th biggest position. Decatur Capital Management Inc.’s holdings in Adobe were worth $3,097,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Drucker Wealth 3.0 LLC acquired a new stake in Adobe during the second quarter worth approximately $1,101,000. Duquesne Family Office LLC acquired a new stake in shares of Adobe during the 2nd quarter worth $20,380,000. APG Asset Management N.V. increased its position in shares of Adobe by 5.3% in the second quarter. APG Asset Management N.V. now owns 359,797 shares of the software company’s stock worth $186,500,000 after purchasing an additional 18,219 shares during the period. Caxton Associates LP raised its stake in Adobe by 2,207.9% in the second quarter. Caxton Associates LP now owns 201,853 shares of the software company’s stock valued at $112,137,000 after purchasing an additional 193,107 shares in the last quarter. Finally, Fred Alger Management LLC lifted its position in Adobe by 8.8% during the second quarter. Fred Alger Management LLC now owns 408,681 shares of the software company’s stock worth $227,039,000 after purchasing an additional 33,054 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ADBE. Oppenheimer restated an “outperform” rating and issued a $625.00 target price on shares of Adobe in a research report on Friday, September 13th. TD Cowen cut their target price on Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Piper Sandler Companies reiterated an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research note on Friday, July 12th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, UBS Group decreased their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Down 1.2 %

Adobe stock opened at $517.90 on Thursday. The company has a market capitalization of $229.64 billion, a PE ratio of 46.53, a PEG ratio of 2.72 and a beta of 1.29. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The firm’s fifty day moving average is $547.57 and its 200 day moving average is $517.98. The company has a quick ratio of 1.16, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.26 earnings per share. As a group, sell-side analysts predict that Adobe Inc. will post 14.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Mark S. Garfield sold 151 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,579,186.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,759 shares of company stock valued at $4,603,153. Corporate insiders own 0.15% of the company’s stock.

About Adobe

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.