Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Motiv8 Investments LLC

Motiv8 Investments LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 47.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,469 shares of the software company’s stock after purchasing an additional 471 shares during the period. Motiv8 Investments LLC’s holdings in Adobe were worth $816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. International Assets Investment Management LLC purchased a new stake in Adobe during the 4th quarter worth approximately $1,468,000. Concentrum Wealth Management increased its holdings in Adobe by 11.3% during the 4th quarter. Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock worth $1,435,194,000 after purchasing an additional 244,008 shares during the last quarter. Aveo Capital Partners LLC increased its holdings in Adobe by 5.9% during the 4th quarter. Aveo Capital Partners LLC now owns 932 shares of the software company’s stock worth $556,000 after purchasing an additional 52 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in Adobe by 22.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,561 shares of the software company’s stock worth $2,066,000 after purchasing an additional 658 shares during the last quarter. Finally, Heritage Investors Management Corp purchased a new stake in Adobe during the 4th quarter worth approximately $208,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the completion of the sale, the chief executive officer now owns 379,660 shares in the company, valued at approximately $206,576,802.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,579,186.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the sale, the chief executive officer now owns 379,660 shares of the company’s stock, valued at approximately $206,576,802.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,523 shares of company stock worth $14,994,277. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research analyst reports. BMO Capital Markets boosted their price target on Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Piper Sandler reduced their price objective on Adobe from $700.00 to $635.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Mizuho reiterated a “buy” rating and set a $640.00 price target (down previously from $680.00) on shares of Adobe in a research report on Friday, June 7th. Wells Fargo & Company boosted their price target on Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Finally, TD Cowen cut their price objective on Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and an average target price of $605.52.

Adobe Stock Down 0.8 %

ADBE stock traded down $4.52 during mid-day trading on Friday, hitting $563.41. The stock had a trading volume of 2,096,790 shares, compared to its average volume of 3,173,966. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The company has a fifty day moving average of $553.72 and a 200 day moving average of $519.38. The stock has a market capitalization of $249.82 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 3.00 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.39 by $0.09. The company 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%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 EPS. On average, equities analysts expect 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.