Trilogy Capital Inc. Invests $550,000 in Adobe Inc. (NASDAQ:ADBE)

Trilogy Capital Inc. acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,089 shares of the software company’s stock, valued at approximately $550,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new position in Adobe in the fourth quarter valued at $35,000. Steph & Co. raised its holdings in shares of Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after buying an additional 30 shares in the last quarter. Vima LLC bought a new stake in Adobe in the 4th quarter worth approximately $55,000. Pineridge Advisors LLC purchased a new stake in Adobe in the fourth quarter worth approximately $60,000. Finally, Scarborough Advisors LLC bought a new position in Adobe during the fourth quarter valued at approximately $61,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Up 1.6 %

Adobe stock opened at $555.54 on Monday. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a current ratio of 1.16, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $485.04 and its two-hundred day simple moving average is $534.27. The company has a market capitalization of $246.33 billion, a price-to-earnings ratio of 49.91, a price-to-earnings-growth ratio of 2.90 and a beta of 1.27.

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 analysts’ consensus estimates of $4.39 by $0.09. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. Adobe’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $3.04 EPS. As a group, equities analysts predict that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has authorized a stock buyback program on Thursday, March 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

ADBE has been the subject of a number of research reports. TD Cowen cut their price objective on shares of Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Bank of America reduced their price objective on Adobe from $700.00 to $640.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Sanford C. Bernstein boosted their target price on Adobe from $653.00 to $660.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. TheStreet lowered Adobe from a “b-” rating to a “c+” rating in a research report on Tuesday, March 19th. Finally, Mizuho reissued a “buy” rating and set a $640.00 price objective (down previously from $680.00) on shares of Adobe in a research note on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $607.67.

Insider Buying and Selling

In other Adobe news, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Anil Chakravarthy sold 100 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total value of $47,100.00. Following the sale, the insider now owns 33,609 shares in the company, valued at $15,829,839. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,940,160. The disclosure for this sale can be found here. Insiders sold a total of 28,270 shares of company stock worth $15,165,916 in the last three months. Insiders own 0.15% of the company’s stock.

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.