Highbridge Capital Management LLC Boosts Stake in Adobe Inc (ADBE)
Highbridge Capital Management LLC lifted its position in shares of Adobe Inc (NASDAQ:ADBE) by 76.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,267 shares of the software company’s stock after acquiring an additional 8,756 shares during the quarter. Highbridge Capital Management LLC’s holdings in Adobe were worth $5,472,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Adobe by 0.5% during the 3rd quarter. FMR LLC now owns 37,486,540 shares of the software company’s stock worth $10,119,492,000 after acquiring an additional 178,011 shares during the period. BlackRock Inc. grew its stake in shares of Adobe by 0.6% during the 3rd quarter. BlackRock Inc. now owns 33,974,587 shares of the software company’s stock worth $9,171,442,000 after acquiring an additional 191,786 shares during the period. Edgewood Management LLC grew its stake in shares of Adobe by 54.4% during the 3rd quarter. Edgewood Management LLC now owns 3,580,613 shares of the software company’s stock worth $966,586,000 after acquiring an additional 1,261,201 shares during the period. Morgan Stanley grew its stake in shares of Adobe by 79.1% during the 2nd quarter. Morgan Stanley now owns 3,431,752 shares of the software company’s stock worth $836,695,000 after acquiring an additional 1,515,736 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Adobe by 5.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,831,169 shares of the software company’s stock worth $446,458,000 after acquiring an additional 94,626 shares during the period. Institutional investors own 85.02% of the company’s stock.
In other Adobe news, EVP Ann Lewnes sold 2,910 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $261.21, for a total value of $760,121.10. Following the sale, the executive vice president now owns 55,647 shares of the company’s stock, valued at approximately $14,535,552.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Bradley Rencher sold 12,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $245.30, for a total value of $2,943,600.00. Following the completion of the sale, the executive vice president now directly owns 68,071 shares in the company, valued at approximately $16,697,816.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,806 shares of company stock worth $5,167,142. Insiders own 0.33% of the company’s stock.
NASDAQ:ADBE opened at $245.82 on Thursday. Adobe Inc has a twelve month low of $165.68 and a twelve month high of $277.61. The stock has a market capitalization of $119.99 billion, a price-to-earnings ratio of 68.47, a price-to-earnings-growth ratio of 2.28 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.66 and a current ratio of 1.66.
Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.04. Adobe had a return on equity of 29.51% and a net margin of 28.16%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the firm posted $1.10 EPS. The company’s revenue was up 24.4% compared to the same quarter last year. As a group, research analysts expect that Adobe Inc will post 5.66 earnings per share for the current fiscal year.
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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 customers to download and install the latest versions of its creative products.
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