GSA Capital Partners LLP Has $515,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

GSA Capital Partners LLP cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 995 shares of the software company’s stock after selling 30 shares during the period. GSA Capital Partners LLP’s holdings in Adobe were worth $515,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ADBE. Piscataqua Savings Bank boosted its position in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. Summit Securities Group LLC acquired a new position in Adobe during the second quarter valued at approximately $33,000. Highline Wealth Partners LLC acquired a new stake in shares of Adobe in the third quarter valued at approximately $38,000. Lynx Investment Advisory acquired a new stake in shares of Adobe in the second quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Adobe in the second quarter valued at approximately $39,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

Adobe stock opened at $499.61 on Wednesday. The stock’s fifty day moving average price is $506.89 and its two-hundred day moving average price is $518.95. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $219.93 billion, a PE ratio of 42.20, a price-to-earnings-growth ratio of 2.59 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $3.26 EPS. As a group, research analysts expect that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This trade represents a 6.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 23.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ADBE has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Argus raised Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a research report on Friday, September 13th. Sanford C. Bernstein cut their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Finally, Barclays raised their price objective on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.