NS Partners Ltd boosted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,830 shares of the software company's stock after buying an additional 1,380 shares during the quarter. Adobe makes up about 1.5% of NS Partners Ltd's investment portfolio, making the stock its 21st biggest holding. NS Partners Ltd's holdings in Adobe were worth $36,157,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Piscataqua Savings Bank increased its holdings in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock valued at $25,000 after buying an additional 34 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe during the 3rd quarter valued at $30,000. Summit Securities Group LLC purchased a new position in shares of Adobe during the 2nd quarter valued at $33,000. Lynx Investment Advisory bought a new stake in Adobe in the second quarter worth $39,000. Finally, Hobbs Group Advisors LLC bought a new stake in Adobe in the second quarter worth $39,000. 81.79% of the stock is owned by institutional investors.
ADBE opened at $499.61 on Wednesday. The company has a fifty day moving average price of $506.89 and a two-hundred day moving average price of $518.95. The firm has a market capitalization of $219.93 billion, a PE ratio of 42.20, a P/E/G ratio of 2.59 and a beta of 1.30. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same period in the prior year, the company posted $3.26 earnings per share. Adobe's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current year.
A number of equities research analysts have issued reports on the stock. JMP Securities restated a "market perform" rating on shares of Adobe in a report on Friday, September 13th. StockNews.com upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 13th. Oppenheimer restated an "outperform" rating and set a $625.00 price target on shares of Adobe in a report on Friday, September 13th. 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, Stifel Nicolaus upped their price objective on shares of Adobe from $600.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Adobe currently has an average rating of "Moderate Buy" and a consensus price target of $606.40.
Read Our Latest Stock Report on Adobe
In other news, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the transaction, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 357,700 shares of the company's stock, valued at approximately $186,569,166. This represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,187 shares of company stock valued at $17,736,369. Corporate insiders own 0.15% of the company's stock.
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.
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