Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Sienna Gestion

Sienna Gestion increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.9% in the second quarter, HoldingsChannel.com reports. The firm owned 21,434 shares of the software company’s stock after acquiring an additional 185 shares during the quarter. Adobe comprises 1.1% of Sienna Gestion’s holdings, making the stock its 20th largest position. Sienna Gestion’s holdings in Adobe were worth $11,902,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Steph & Co. increased its holdings in shares of Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Adobe by 16.2% during the first quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock worth $1,435,000 after purchasing an additional 398 shares in the last quarter. Choreo LLC lifted its position in shares of Adobe by 4.7% during the 1st quarter. Choreo LLC now owns 4,431 shares of the software company’s stock worth $2,236,000 after buying an additional 197 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Adobe by 14.7% in the 4th quarter. Eagle Asset Management Inc. now owns 24,400 shares of the software company’s stock valued at $14,557,000 after buying an additional 3,120 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of Adobe by 23.3% in the 2nd quarter. Quest Partners LLC now owns 588 shares of the software company’s stock valued at $327,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Adobe stock opened at $508.13 on Thursday. The company has a market cap of $225.30 billion, a P/E ratio of 45.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The business has a fifty day moving average of $550.53 and a two-hundred day moving average of $518.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16.

Adobe (NASDAQ:ADBE) last announced 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 analysts’ expectations of $5.37 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.26 earnings per share. As a group, analysts predict that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADBE shares. Oppenheimer restated an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. Melius downgraded Adobe from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Monday, June 10th. Robert W. Baird boosted their price objective on Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. Citigroup raised their target price on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, TD Cowen decreased their price target on shares of Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.58.

Insider Activity

In related news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total value of $13,602,750.00. Following the completion of the transaction, the chief executive officer now directly owns 379,660 shares of the company’s stock, valued at approximately $206,576,802.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the sale, the chief executive officer now directly owns 379,660 shares in the company, valued at $206,576,802.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $560.23, for a total value of $857,151.90. Following the completion of the transaction, the executive vice president now owns 20,359 shares of the company’s stock, valued at approximately $11,405,722.57. The disclosure for this sale can be found here. In the last three months, insiders sold 27,259 shares of company stock worth $14,855,543. Company 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.