Thompson Investment Management Inc. lessened its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 6.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,340 shares of the software company’s stock after selling 150 shares during the period. Thompson Investment Management Inc.’s holdings in Adobe were worth $646,000 at the end of the most recent reporting period.

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

NASDAQ:ADBE traded up $1.69 on Friday, reaching $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 quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $140.04 billion, a price-to-earnings ratio of 52.70, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09. The business has a fifty day moving average of $274.89 and a 200-day moving average of $284.28. Adobe Inc has a 52-week low of $204.95 and a 52-week high of $313.11.

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

ADBE has been the topic of several recent research reports. Nomura lowered their price target on shares of Adobe from $315.00 to $310.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Barclays lowered their price target on shares of Adobe from $330.00 to $325.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Stifel Nicolaus reissued a “neutral” rating and set a $325.00 price target on shares of Adobe in a research report on Wednesday, September 18th. JMP Securities reissued a “hold” rating on shares of Adobe in a research report on Wednesday, September 18th. Finally, BMO Capital Markets lowered their price target on shares of Adobe from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $304.88.

In other Adobe news, CMO Ann Lewnes sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $274.34, for a total transaction of $823,020.00. Following the sale, the chief marketing officer now directly owns 52,398 shares in the company, valued at $14,374,867.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 9,000 shares of company stock worth $2,500,110 over the last quarter. Insiders own 0.32% of the company’s stock.

Adobe 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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