LS Investment Advisors LLC Acquires 160 Shares of Adobe Inc. (NASDAQ:ADBE)

LS Investment Advisors LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 7.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,355 shares of the software company’s stock after purchasing an additional 160 shares during the period. LS Investment Advisors LLC’s holdings in Adobe were worth $1,308,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Sound View Wealth Advisors Group LLC lifted its position in shares of Adobe by 2.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 696 shares of the software company’s stock worth $415,000 after buying an additional 17 shares in the last quarter. Wade G W & Inc. lifted its holdings in Adobe by 0.5% during the fourth quarter. Wade G W & Inc. now owns 3,712 shares of the software company’s stock worth $2,215,000 after acquiring an additional 18 shares during the period. Invst LLC boosted its position in Adobe by 2.1% in the fourth quarter. Invst LLC now owns 934 shares of the software company’s stock worth $567,000 after purchasing an additional 19 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its stake in Adobe by 3.9% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after purchasing an additional 19 shares during the period. Finally, HTLF Bank increased its position in shares of Adobe by 3.3% during the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other news, CAO Mark S. Garfield sold 264 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the completion of the sale, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Adobe news, EVP Scott Belsky sold 481 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the completion of the transaction, the executive vice president now owns 19,658 shares in the company, valued at $10,556,346. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 264 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the transaction, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The disclosure for this sale can be found here. Insiders sold a total of 27,523 shares of company stock worth $14,994,277 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ADBE shares. Robert W. Baird boosted their price target on shares of Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a report on Friday, June 14th. Mizuho reissued a “buy” rating and set a $640.00 target price (down from $680.00) on shares of Adobe in a research report on Friday, June 7th. Citigroup lowered their price target on shares of Adobe from $554.00 to $529.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. Barclays increased their price objective on Adobe from $630.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $600.00 target price on shares of Adobe in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $601.38.

Adobe Trading Up 1.5 %

Adobe stock traded up $8.38 during trading hours on Tuesday, reaching $567.82. The stock had a trading volume of 1,403,062 shares, compared to its average volume of 3,228,181. The company has a fifty day simple moving average of $546.89 and a 200-day simple moving average of $519.69. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The stock has a market cap of $251.77 billion, a PE ratio of 51.02, 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 (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the business earned $3.04 EPS. Adobe’s revenue was up 10.2% compared to the same quarter last year. Analysts forecast that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Adobe Company 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.