SG Americas Securities LLC Has $126.90 Million Holdings in Adobe Inc (NASDAQ:ADBE) Posted by Oscar Bower on Jan 29th, 2020 // Comments off
SG Americas Securities LLC lifted its stake in Adobe Inc (NASDAQ:ADBE) by 2,978.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission.The firm owned 384,766 shares of the software company’s stock after buying an additional 372,268 shares during the period.Adobe makes up approximately 1.2% of SG Americas Securities LLC’s investment portfolio, making the stock its 10th biggest position.SG Americas Securities LLC’s holdings in Adobe were worth $126,900,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of ADBE.BlackRock Inc.
lifted its stake 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 purchasing an additional 887,115 shares during the last quarter.
Massachusetts Financial Services Co.MA increased its holdings in shares of Adobe by 1.4% during the third quarter.Massachusetts Financial Services Co.MA now owns 6,810,109 shares of the software company’s stock worth $1,881,292,000 after buying an additional 91,217 shares in the last quarter.
Fisher Asset Management LLC increased its holdings in shares of Adobe by 31.3% during the third quarter.Fisher Asset Management LLC now owns 4,079,637 shares of the software company’s stock worth $1,127,000,000 after buying an additional 972,817 shares in the last quarter.
Parametric Portfolio Associates LLC increased its holdings in shares of Adobe by 0.8% during the third quarter.Parametric Portfolio Associates LLC now owns 1,844,737 shares of the software company’s stock worth $509,609,000 after buying an additional 14,524 shares in the last quarter.Finally, California Public Employees Retirement System increased its holdings in shares of Adobe by 5.9% during the fourth quarter.California Public Employees Retirement System now owns 1,181,239 shares of the software company’s stock worth $389,584,000 after buying an additional 65,560 shares in the last quarter.Institutional investors and hedge funds own 85.06% of the company’s stock.Get Adobe alerts:
In other news, EVP Donna Morris sold 25,481 shares of the stock in a transaction dated Tuesday, January 28th.The shares were sold at an average price of $348.16, for a total transaction of $8,871,464.96.
Following the transaction, the executive vice president now owns 89,690 shares of the company’s stock, valued at approximately $31,226,470.40.The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website .Also, CAO Mark S.Garfield sold 948 shares of the stock in a transaction dated Monday, December 16th.
The stock was sold at an average price of $319.27, for a total transaction of $302,667.96.Following the transaction, the chief accounting officer now directly owns 74 shares in the company, valued at approximately $23,625.98.The disclosure for this sale can be found here .
Insiders have sold a total of 62,793 shares of company stock worth $21,169,089 in the last three months.Insiders own 0.32% of the company’s stock.Several research analysts have recently issued reports on ADBE shares.Credit Suisse Group upped their price target on shares of Adobe from $350.00 to $385.00 and gave the stock an “outperform” rating in a report on Monday, January 13th.Oppenheimer upgraded Adobe from a “market perform” rating to an “outperform” rating and set a $410.00 price objective for the company in a report on Friday, January 17th.Argus restated a “buy” rating and issued a $368.00 price objective on shares of Adobe in a report on Monday, December 16th.BidaskClub upgraded Adobe from a “sell” rating to a “hold” rating in a report on Saturday, January 11th.
Finally, Nomura increased their price objective on Adobe from $310.00 to $318.00 and gave the company a “buy” rating in a report on Friday, December 13th.
One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company.The company currently has an average rating of “Buy” and a consensus target price of $336.28.
Shares of ADBE stock traded down $0.92 on Wednesday, reaching $353.71.971,702 shares of the company were exchanged, compared to its average volume of 1,788,751.The company has a market cap of $169.41 billion, a price-to-earnings ratio of 58.95, a PEG ratio of 2.70 and a beta of 1.11.
The company has a 50-day moving average of $334.59 and a 200-day moving average of $300.03.The company has a debt-to-equity ratio of 0.09, a current ratio of 0.79 and a quick ratio of 0.79.Adobe Inc has a one year low of $237.27 and a one year high of $355.69.
Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 12th.The software company reported $2.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.26 by $0.03.
The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.97 billion.Adobe had a net margin of 26.42% and a return on equity of 31.47%.The business’s revenue was up 21.4% on a year-over-year basis.During the same quarter in the prior year, the firm earned $1.83 EPS.As a group, sell-side analysts predict that Adobe Inc will post 8.02 EPS for the current year.
Adobe 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 customer to download and access the latest versions of its creative products.
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