Sequoia Financial Advisors LLC Has $4.22 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Sequoia Financial Advisors LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,157 shares of the software company’s stock after buying an additional 654 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Adobe were worth $4,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ADBE. Sky Investment Group LLC grew its holdings in Adobe by 10.0% during the 3rd quarter. Sky Investment Group LLC now owns 3,889 shares of the software company’s stock worth $2,014,000 after acquiring an additional 352 shares during the period. Traphagen Investment Advisors LLC bought a new position in shares of Adobe in the 3rd quarter worth $209,000. Oakworth Capital Inc. grew its stake in shares of Adobe by 10.2% during the third quarter. Oakworth Capital Inc. now owns 1,044 shares of the software company’s stock worth $541,000 after purchasing an additional 97 shares during the period. Foundations Investment Advisors LLC increased its holdings in Adobe by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 27,501 shares of the software company’s stock valued at $14,239,000 after purchasing an additional 2,438 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its stake in Adobe by 6.4% in the third quarter. Raleigh Capital Management Inc. now owns 836 shares of the software company’s stock valued at $433,000 after buying an additional 50 shares during the period. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ADBE shares. Oppenheimer restated an “outperform” rating and set a $625.00 target price on shares of Adobe in a research report on Friday, September 13th. Citigroup boosted their price objective on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Barclays increased their target price on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Sanford C. Bernstein decreased their price target on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Finally, StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Buying and Selling at Adobe

In other news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Daniel Durn sold 6,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the transaction, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,030 shares of company stock worth $17,176,005 over the last 90 days. Company insiders own 0.15% of the company’s stock.

Adobe Stock Down 1.6 %

NASDAQ:ADBE opened at $485.03 on Thursday. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The firm has a market capitalization of $215.06 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average price is $532.85 and its two-hundred day moving average price is $515.83.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the company earned $3.26 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts expect that Adobe Inc. will post 14.8 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.