Meeder Asset Management Inc. Has $133,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Meeder Asset Management Inc. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 31.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 256 shares of the software company’s stock after buying an additional 61 shares during the period. Meeder Asset Management Inc.’s holdings in Adobe were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ADBE. Piscataqua Savings Bank increased its stake in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Adobe in the 3rd quarter worth about $30,000. Summit Securities Group LLC purchased a new stake in shares of Adobe during the 2nd quarter worth about $33,000. Lynx Investment Advisory acquired a new stake in shares of Adobe during the 2nd quarter valued at about $39,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Adobe in the 2nd quarter valued at approximately $39,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Down 0.0 %

Shares of NASDAQ ADBE opened at $499.50 on Thursday. The stock has a market cap of $219.88 billion, a PE ratio of 42.19, a PEG ratio of 2.59 and a beta of 1.30. The business has a fifty day moving average of $505.27 and a two-hundred day moving average of $518.81. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $3.26 earnings per share. As a group, equities research analysts expect that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ADBE. Argus upgraded Adobe to a “strong-buy” rating in a report on Monday, September 16th. Oppenheimer restated an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Bank of America restated a “buy” rating and issued a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. Finally, Stifel Nicolaus increased their price objective on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.