Highland Capital Management LP acquired a new stake in shares of Adobe Inc (NASDAQ:ADBE) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 32,500 shares of the software company’s stock, valued at approximately $8,773,000.

A number of other hedge funds have also recently made changes to their positions in ADBE. LPL Financial LLC lifted its stake in Adobe by 38.9% during the 3rd quarter. LPL Financial LLC now owns 168,102 shares of the software company’s stock valued at $45,379,000 after acquiring an additional 47,119 shares during the period. Fifth Third Bancorp lifted its stake in shares of Adobe by 7.3% in the 3rd quarter. Fifth Third Bancorp now owns 62,983 shares of the software company’s stock worth $17,002,000 after purchasing an additional 4,265 shares during the period. Charter Trust Co. lifted its stake in shares of Adobe by 90.6% in the 3rd quarter. Charter Trust Co. now owns 1,609 shares of the software company’s stock worth $434,000 after purchasing an additional 765 shares during the period. Lido Advisors LLC lifted its stake in shares of Adobe by 14.6% in the 3rd quarter. Lido Advisors LLC now owns 2,293 shares of the software company’s stock worth $618,000 after purchasing an additional 292 shares during the period. Finally, Invictus RG lifted its stake in shares of Adobe by 148.7% in the 3rd quarter. Invictus RG now owns 3,004 shares of the software company’s stock worth $811,000 after purchasing an additional 1,796 shares during the period. 85.02% of the stock is currently owned by institutional investors.

In other Adobe news, EVP Ann Lewnes sold 2,955 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $225.38, for a total transaction of $665,997.90. Following the completion of the sale, the executive vice president now directly owns 52,692 shares of the company’s stock, valued at approximately $11,875,722.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bradley Rencher sold 12,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $245.30, for a total transaction of $2,943,600.00. Following the sale, the executive vice president now directly owns 68,071 shares of the company’s stock, valued at $16,697,816.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,806 shares of company stock worth $5,167,142. 0.33% of the stock is owned by company insiders.

NASDAQ ADBE opened at $250.63 on Friday. Adobe Inc has a 12 month low of $170.43 and a 12 month high of $277.61. The company has a market cap of $119.99 billion, a price-to-earnings ratio of 69.81, a PEG ratio of 2.28 and a beta of 1.14. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. Adobe had a net margin of 28.16% and a return on equity of 29.51%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the business earned $1.10 EPS. The firm’s revenue was up 24.4% compared to the same quarter last year. As a group, analysts expect that Adobe Inc will post 5.66 earnings per share for the current year.

ADBE has been the topic of several recent research reports. Jefferies Financial Group increased their price objective on shares of Adobe to $315.00 and gave the stock a “buy” rating in a research note on Friday, September 14th. Citigroup increased their price objective on shares of Adobe from $260.00 to $309.00 and gave the stock a “buy” rating in a research note on Friday, September 14th. Griffin Securities increased their price objective on shares of Adobe from $278.00 to $296.00 and gave the stock a “buy” rating in a research note on Friday, September 14th. Stifel Nicolaus increased their price objective on shares of Adobe from $275.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, September 14th. Finally, KeyCorp reiterated a “buy” rating and issued a $286.00 price objective (up previously from $276.00) on shares of Adobe in a research note on Friday, September 14th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $271.90.

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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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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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