Capital Investment Advisors LLC Purchases 702 Shares of Adobe Inc. (NASDAQ:ADBE)

Capital Investment Advisors LLC raised its position in Adobe Inc. (NASDAQ:ADBE) by 14.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,589 shares of the software company’s stock after acquiring an additional 702 shares during the period. Capital Investment Advisors LLC’s holdings in Adobe were worth $3,105,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADBE. Tradewinds Capital Management LLC raised its stake in shares of Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC raised its stake in shares of Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Adobe during the 4th quarter worth approximately $35,000. Steph & Co. raised its stake in Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. Finally, Lynx Investment Advisory bought a new stake in Adobe in the 2nd quarter valued at $39,000. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,579,186.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Mark S. Garfield sold 264 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the completion of the transaction, the chief accounting officer now directly owns 2,740 shares in the company, valued at $1,439,897.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,523 shares of company stock worth $14,994,277. 0.15% of the stock is currently owned by insiders.

Adobe Price Performance

NASDAQ:ADBE traded up $6.06 during trading hours on Friday, hitting $536.30. The company’s stock had a trading volume of 1,272,635 shares, compared to its average volume of 3,346,469. The stock has a fifty day simple moving average of $528.34 and a 200-day simple moving average of $526.14. The company has a market capitalization of $237.80 billion, a P/E ratio of 48.19, a PEG ratio of 2.85 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.39 by $0.09. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. Adobe’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $3.04 earnings per share. On average, analysts anticipate that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ADBE. Robert W. Baird increased their price target on Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. Mizuho restated a “buy” rating and issued a $640.00 price target (down previously from $680.00) on shares of Adobe in a research note on Friday, June 7th. Stifel Nicolaus dropped their price target on Adobe from $625.00 to $600.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Melius cut Adobe from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Monday, June 10th. Finally, Sanford C. Bernstein increased their price target on Adobe from $653.00 to $660.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $601.38.

Adobe Profile

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.