Adobe Inc. (NASDAQ:ADBE) Stock Holdings Reduced by Eos Focused Equity Management L.P.

Eos Focused Equity Management L.P. cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 60.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,022 shares of the software company’s stock after selling 4,670 shares during the period. Adobe accounts for about 1.6% of Eos Focused Equity Management L.P.’s investment portfolio, making the stock its 27th largest position. Eos Focused Equity Management L.P.’s holdings in Adobe were worth $1,482,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Copper Rock Capital Partners LLC lifted its stake in shares of Adobe by 6,598.7% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 2,769,030 shares of the software company’s stock valued at $1,024,851,000 after purchasing an additional 2,727,693 shares during the last quarter. BlackRock Inc. lifted its position in shares of Adobe by 4.5% in the second quarter. BlackRock Inc. now owns 38,069,522 shares of the software company’s stock worth $16,572,043,000 after buying an additional 1,623,749 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Adobe by 94.3% during the 2nd quarter. Nordea Investment Management AB now owns 1,646,720 shares of the software company’s stock worth $707,710,000 after acquiring an additional 799,163 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Adobe by 70.4% during the 2nd quarter. California Public Employees Retirement System now owns 1,853,168 shares of the software company’s stock valued at $806,703,000 after acquiring an additional 765,634 shares during the last quarter. Finally, Softbank Group Corp bought a new position in shares of Adobe in the 2nd quarter valued at approximately $248,565,000. Institutional investors and hedge funds own 84.03% of the company’s stock.

ADBE traded down $16.36 during midday trading on Friday, reaching $444.75. 105,271 shares of the company’s stock were exchanged, compared to its average volume of 3,171,124. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.35. The business has a 50-day simple moving average of $485.87 and a two-hundred day simple moving average of $432.42. The firm has a market capitalization of $221.20 billion, a price-to-earnings ratio of 55.90, a price-to-earnings-growth ratio of 3.13 and a beta of 0.97. Adobe Inc. has a one year low of $255.13 and a one year high of $536.88.

Adobe (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 15th. The software company reported $2.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.41 by $0.16. Adobe had a return on equity of 35.84% and a net margin of 31.05%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the firm posted $2.05 EPS. Adobe’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, research analysts anticipate that Adobe Inc. will post 8.23 EPS for the current fiscal year.

ADBE has been the topic of several analyst reports. DZ Bank upgraded Adobe from a “hold” rating to a “buy” rating and set a $570.00 price target on the stock in a report on Thursday, September 17th. Barclays raised their target price on shares of Adobe from $530.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, September 16th. Royal Bank of Canada boosted their target price on shares of Adobe from $550.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. BidaskClub cut shares of Adobe from a “buy” rating to a “hold” rating in a report on Wednesday, September 9th. Finally, UBS Group lifted their price objective on Adobe from $540.00 to $577.00 and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $504.86.

In other news, EVP Gloria Chen sold 484 shares of the firm’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $499.00, for a total value of $241,516.00. Following the completion of the sale, the executive vice president now directly owns 6,881 shares in the company, valued at $3,433,619. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Bryan Lamkin sold 13,095 shares of Adobe stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $477.15, for a total value of $6,248,279.25. Following the completion of the transaction, the executive vice president now directly owns 84,774 shares of the company’s stock, valued at $40,449,914.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,376 shares of company stock valued at $20,042,368. Company insiders own 0.31% of the company’s stock.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, 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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