Point72 Hong Kong Ltd increased its stake in shares of Adobe Inc (NASDAQ:ADBE) by 33.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the software company’s stock after buying an additional 5,000 shares during the quarter. Adobe accounts for 1.6% of Point72 Hong Kong Ltd’s investment portfolio, making the stock its 10th largest holding. Point72 Hong Kong Ltd’s holdings in Adobe were worth $5,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Adobe by 1.3% during the second quarter. Vanguard Group Inc. now owns 38,052,601 shares of the software company’s stock worth $11,212,199,000 after buying an additional 504,241 shares in the last quarter. BlackRock Inc. grew its holdings in Adobe by 2.7% during the second quarter. BlackRock Inc. now owns 33,730,576 shares of the software company’s stock worth $9,938,712,000 after buying an additional 887,115 shares in the last quarter. Janus Henderson Group PLC grew its stake in Adobe by 0.8% in 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 purchasing an additional 60,035 shares during the period. Invesco Ltd. grew its stake in Adobe by 37.5% in the 2nd quarter. Invesco Ltd. now owns 7,973,766 shares of the software company’s stock valued at $2,349,470,000 after purchasing an additional 2,174,047 shares during the period. Finally, Morgan Stanley grew its stake in Adobe by 13.2% in the 2nd quarter. Morgan Stanley now owns 6,950,101 shares of the software company’s stock valued at $2,047,848,000 after purchasing an additional 812,144 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Shares of ADBE stock traded down $3.35 on Friday, hitting $277.91. 3,362,893 shares of the stock were exchanged, compared to its average volume of 2,724,814. The company has a current ratio of 0.74, a quick ratio of 0.70 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $135.79 billion, a PE ratio of 50.07, a P/E/G ratio of 2.54 and a beta of 1.11. Adobe Inc has a one year low of $204.95 and a one year high of $313.11. The firm’s 50 day moving average is $285.63 and its two-hundred day moving average is $281.81.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results 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 company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.82 billion. Adobe had a return on equity of 30.49% and a net margin of 26.10%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 EPS. On average, sell-side analysts expect that Adobe Inc will post 6.3 earnings per share for the current year.

ADBE has been the subject of a number of recent analyst reports. Bank of America upped their price objective on Adobe from $312.00 to $323.00 and gave the company a “buy” rating in a research note on Wednesday, June 19th. Wedbush restated a “hold” rating and issued a $290.00 price objective on shares of Adobe in a research note on Wednesday. Griffin Securities upped their price objective on Adobe from $303.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday. Nomura reduced their price objective on Adobe from $315.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Stephens set a $327.00 price objective on Adobe and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $302.65.

In other news, CMO Ann Lewnes sold 3,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $274.34, for a total transaction of $823,020.00. Following the completion of the transaction, the chief marketing officer now owns 52,398 shares in the company, valued at approximately $14,374,867.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dana Rao sold 2,832 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $303.36, for a total value of $859,115.52. The disclosure for this sale can be found here. Insiders have sold a total of 25,627 shares of company stock valued at $7,471,484 in the last quarter. 0.32% of the stock is owned by corporate insiders.

About Adobe

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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