Cable Hill Partners LLC Buys 199 Shares of Adobe Inc. (NASDAQ:ADBE)

Cable Hill Partners LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 19.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,222 shares of the software company’s stock after acquiring an additional 199 shares during the quarter. Cable Hill Partners LLC’s holdings in Adobe were worth $716,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ten Capital Wealth Advisors LLC boosted its holdings in Adobe by 5.9% in the 2nd quarter. Ten Capital Wealth Advisors LLC now owns 289 shares of the software company’s stock valued at $169,000 after purchasing an additional 16 shares during the period. Reilly Financial Advisors LLC grew its holdings in Adobe by 1.2% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,467 shares of the software company’s stock worth $859,000 after acquiring an additional 17 shares during the last quarter. Beaumont Financial Partners LLC grew its holdings in Adobe by 1.0% during the 2nd quarter. Beaumont Financial Partners LLC now owns 1,742 shares of the software company’s stock worth $1,023,000 after acquiring an additional 17 shares during the last quarter. EPG Wealth Management LLC grew its holdings in Adobe by 1.6% during the 2nd quarter. EPG Wealth Management LLC now owns 1,054 shares of the software company’s stock worth $617,000 after acquiring an additional 17 shares during the last quarter. Finally, Windward Capital Management Co. CA grew its holdings in Adobe by 1.2% during the 2nd quarter. Windward Capital Management Co. CA now owns 1,477 shares of the software company’s stock worth $865,000 after acquiring an additional 18 shares during the last quarter. Institutional investors own 81.67% of the company’s stock.

In other Adobe news, EVP Dana Rao sold 488 shares of the firm’s stock in a transaction dated Tuesday, July 27th. The stock was sold at an average price of $621.71, for a total value of $303,394.48. Following the completion of the sale, the executive vice president now owns 14,579 shares of the company’s stock, valued at $9,063,910.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gloria Chen sold 42 shares of the firm’s stock in a transaction dated Friday, September 24th. The stock was sold at an average price of $628.00, for a total value of $26,376.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,779 shares of company stock worth $27,799,424. Insiders own 0.23% of the company’s stock.

Several research analysts recently issued reports on the stock. UBS Group increased their target price on shares of Adobe from $625.00 to $690.00 and gave the stock a “buy” rating in a research note on Wednesday, September 22nd. Barclays raised their price objective on shares of Adobe from $660.00 to $740.00 and gave the stock an “overweight” rating in a report on Thursday, September 16th. Argus increased their target price on shares of Adobe from $650.00 to $764.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Jefferies Financial Group increased their target price on shares of Adobe from $750.00 to $760.00 and gave the stock a “buy” rating in a research report on Wednesday, September 22nd. Finally, increased their target price on shares of Adobe from $523.00 to $575.00 and gave the stock a “neutral” rating in a research report on Friday, June 18th. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $679.57.

Shares of NASDAQ ADBE traded up $16.70 during midday trading on Thursday, reaching $607.82. 74,154 shares of the stock traded hands, compared to its average volume of 2,271,084. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $289.57 billion, a PE ratio of 52.33, a P/E/G ratio of 3.42 and a beta of 0.97. Adobe Inc. has a one year low of $420.78 and a one year high of $673.88. The company’s 50 day moving average is $629.27 and its 200 day moving average is $570.55.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Monday, September 20th. The software company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.10. Adobe had a return on equity of 35.94% and a net margin of 38.79%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the prior year, the firm posted $2.12 EPS. Adobe’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, equities analysts forecast that Adobe Inc. will post 10.28 EPS for the current year.

Adobe Company Profile

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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