Apella Capital LLC Boosts Holdings in Adobe Inc. (NASDAQ:ADBE)

Apella Capital LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 631 shares of the software company’s stock after buying an additional 37 shares during the quarter. Apella Capital LLC’s holdings in Adobe were worth $319,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. J. W. Coons Advisors LLC raised its stake in shares of Adobe by 2.6% during the 4th quarter. J. W. Coons Advisors LLC now owns 1,843 shares of the software company’s stock worth $1,100,000 after buying an additional 46 shares in the last quarter. Azimuth Capital Investment Management LLC raised its position in Adobe by 6.0% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 1,995 shares of the software company’s stock worth $1,190,000 after acquiring an additional 113 shares in the last quarter. Waterloo Capital L.P. lifted its holdings in Adobe by 19.3% in the fourth quarter. Waterloo Capital L.P. now owns 3,348 shares of the software company’s stock valued at $1,997,000 after acquiring an additional 542 shares during the period. Watchman Group Inc. purchased a new stake in shares of Adobe during the 4th quarter worth $295,000. Finally, Westwood Holdings Group Inc. grew its stake in shares of Adobe by 18.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,372 shares of the software company’s stock worth $2,012,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ADBE shares. Morgan Stanley reiterated an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a research note on Friday, September 13th. TD Cowen lowered their price target on Adobe from $640.00 to $625.00 and set a “buy” rating on the stock in a report on Monday, June 10th. UBS Group dropped their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. upgraded Adobe from a “neutral” rating to an “overweight” rating and raised their price target for the company from $570.00 to $580.00 in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Adobe news, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,579,186.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $560.23, for a total transaction of $857,151.90. Following the transaction, the executive vice president now directly owns 20,359 shares in the company, valued at $11,405,722.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,759 shares of company stock worth $17,642,653 in the last quarter. 0.15% of the stock is owned by corporate insiders.

Adobe Stock Up 0.7 %

NASDAQ:ADBE traded up $3.42 during mid-day trading on Friday, hitting $507.22. The company had a trading volume of 1,949,994 shares, compared to its average volume of 3,224,393. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The business has a fifty day simple moving average of $541.74 and a 200-day simple moving average of $516.31. The company has a current ratio of 1.11, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $224.90 billion, a price-to-earnings ratio of 45.57, a PEG ratio of 2.72 and a beta of 1.29.

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

Adobe Profile

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.