Adobe Inc. (NASDAQ:ADBE) Shares Sold by LVW Advisors LLC

LVW Advisors LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 898 shares of the software company’s stock after selling 108 shares during the period. LVW Advisors LLC’s holdings in Adobe were worth $453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invst LLC raised its position in shares of Adobe by 1.9% during the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock worth $467,000 after buying an additional 17 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Adobe by 3.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock worth $285,000 after buying an additional 17 shares in the last quarter. Lantz Financial LLC raised its position in shares of Adobe by 2.5% during the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock worth $411,000 after buying an additional 17 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management raised its position in shares of Adobe by 4.3% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock worth $249,000 after buying an additional 17 shares in the last quarter. Finally, Evolution Advisers Inc. raised its position in shares of Adobe by 14.3% during the 4th quarter. Evolution Advisers Inc. now owns 136 shares of the software company’s stock worth $79,000 after buying an additional 17 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, CAO Mark S. Garfield sold 96 shares of the 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 transaction, the chief accounting officer now owns 4,128 shares in the company, valued at approximately $1,940,160. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Mark S. Garfield sold 96 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,940,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anil Chakravarthy sold 100 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the transaction, the insider now owns 33,609 shares in the company, valued at $15,829,839. The disclosure for this sale can be found here. Insiders have sold a total of 28,270 shares of company stock worth $15,165,916 in the last 90 days. 0.15% of the stock is owned by insiders.

Adobe Stock Up 0.8 %

Adobe stock opened at $560.01 on Tuesday. The firm has a market cap of $248.31 billion, a PE ratio of 50.32, a P/E/G ratio of 2.90 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s 50 day moving average price is $485.04 and its two-hundred day moving average price is $534.27. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25.

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

Adobe declared that its board has initiated a share repurchase plan on Thursday, March 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of Adobe from $625.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Citigroup dropped their target price 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. DA Davidson reiterated a “buy” rating and issued a $685.00 target price on shares of Adobe in a report on Thursday, March 28th. Oppenheimer reiterated an “outperform” rating and issued a $580.00 target price on shares of Adobe in a report on Friday, June 14th. Finally, Melius Research reiterated a “hold” rating and issued a $510.00 target price on shares of Adobe in a report on Monday, June 10th. Two 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 company. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $607.67.

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.