Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Adobe Inc. (NASDAQ:ADBE – Get Rating) by 69.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,322 shares of the software company’s stock after selling 5,327 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Adobe were worth $639,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Public Investment Fund bought a new stake in Adobe in the second quarter valued at $419,981,000. Castleview Partners LLC grew its position in Adobe by 37,795.5% in the second quarter. Castleview Partners LLC now owns 720,772 shares of the software company’s stock valued at $1,969,000 after acquiring an additional 718,870 shares during the period. Parnassus Investments LLC grew its position in Adobe by 51.3% in the second quarter. Parnassus Investments LLC now owns 1,998,331 shares of the software company’s stock valued at $731,509,000 after acquiring an additional 677,383 shares during the period. Amundi grew its position in Adobe by 22.4% in the second quarter. Amundi now owns 2,963,024 shares of the software company’s stock valued at $1,104,541,000 after acquiring an additional 542,902 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in Adobe by 5,491.1% in the second quarter. Brown Brothers Harriman & Co. now owns 528,139 shares of the software company’s stock valued at $193,331,000 after acquiring an additional 518,693 shares during the period. 79.36% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, EVP Dana Rao sold 5,018 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $336.93, for a total transaction of $1,690,714.74. Following the completion of the transaction, the executive vice president now directly owns 14,832 shares of the company’s stock, valued at $4,997,345.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Dana Rao sold 5,018 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $336.93, for a total transaction of $1,690,714.74. Following the completion of the transaction, the executive vice president now directly owns 14,832 shares of the company’s stock, valued at $4,997,345.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $346.61, for a total value of $5,199,150.00. Following the completion of the sale, the chief executive officer now directly owns 408,866 shares of the company’s stock, valued at $141,717,044.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,265 shares of company stock worth $9,067,344. 0.23% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Adobe Stock Up 0.5 %
NASDAQ:ADBE opened at $323.95 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $148.30 billion, a PE ratio of 32.07, a PEG ratio of 2.00 and a beta of 1.23. Adobe Inc. has a 52-week low of $274.73 and a 52-week high of $479.21. The stock has a 50-day simple moving average of $352.43 and a 200 day simple moving average of $340.15.
Adobe (NASDAQ:ADBE – Get Rating) last posted its quarterly earnings data on Thursday, December 15th. The software company reported $2.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.78. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.52 billion. Adobe had a return on equity of 36.74% and a net margin of 27.01%. On average, sell-side analysts expect that Adobe Inc. will post 12.15 EPS for the current fiscal year.
About Adobe
Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. 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 Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.
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