Paradigm Financial Advisors LLC Takes Position in Adobe Inc (NASDAQ:ADBE)

Paradigm Financial Advisors LLC purchased a new stake in Adobe Inc (NASDAQ:ADBE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 980 shares of the software company’s stock, valued at approximately $271,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Adobe by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 38,052,601 shares of the software company’s stock worth $11,212,199,000 after purchasing an additional 504,241 shares in the last quarter. BlackRock Inc. increased its stake in Adobe by 2.7% during the 2nd quarter. BlackRock Inc. now owns 33,730,576 shares of the software company’s stock worth $9,938,712,000 after purchasing an additional 887,115 shares in the last quarter. Janus Henderson Group PLC increased its stake in Adobe by 0.8% during the 2nd quarter. Janus Henderson Group PLC now owns 8,017,961 shares of the software company’s stock worth $2,362,476,000 after purchasing an additional 60,035 shares in the last quarter. Invesco Ltd. increased its stake in Adobe by 37.5% during the 2nd quarter. Invesco Ltd. now owns 7,973,766 shares of the software company’s stock worth $2,349,470,000 after purchasing an additional 2,174,047 shares in the last quarter. Finally, Morgan Stanley increased its stake in Adobe by 13.2% during the 2nd quarter. Morgan Stanley now owns 6,950,101 shares of the software company’s stock worth $2,047,848,000 after purchasing an additional 812,144 shares in the last quarter. 86.60% of the stock is owned by institutional investors.

Shares of ADBE traded up $1.69 during mid-day trading on Friday, hitting $292.46. 1,628,400 shares of the company’s stock were exchanged, compared to its average volume of 2,747,625. The company has a 50-day simple moving average of $275.11 and a 200 day simple moving average of $284.38. Adobe Inc has a 52 week low of $204.95 and a 52 week high of $313.11. The company has a market cap of $140.04 billion, a PE ratio of 52.70, a P/E/G ratio of 2.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.74.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.08. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Adobe had a return on equity of 30.49% and a net margin of 26.10%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 EPS. On average, analysts anticipate that Adobe Inc will post 6.39 earnings per share for the current year.

A number of analysts recently issued reports on the company. BMO Capital Markets lowered their target price on Adobe from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Barclays lowered their target price on Adobe from $330.00 to $325.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Credit Suisse Group set a $325.00 target price on Adobe and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Griffin Securities increased their target price on Adobe from $303.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, ValuEngine cut Adobe from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $304.88.

In other Adobe news, EVP Ann Lewnes sold 3,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $289.32, for a total transaction of $867,960.00. Following the transaction, the executive vice president now owns 55,198 shares in the company, valued at approximately $15,969,885.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 9,000 shares of company stock worth $2,500,110 in the last quarter. Company insiders own 0.32% of the company’s stock.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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