Monument Capital Management Has $329,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Monument Capital Management decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 11.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 652 shares of the software company’s stock after selling 85 shares during the period. Monument Capital Management’s holdings in Adobe were worth $329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wetzel Investment Advisors Inc. bought a new stake in shares of Adobe during the 4th quarter worth approximately $35,000. Steph & Co. increased its holdings in Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after buying an additional 30 shares during the last quarter. Vima LLC bought a new stake in Adobe during the fourth quarter worth $55,000. Pineridge Advisors LLC acquired a new stake in Adobe in the fourth quarter valued at $60,000. Finally, Scarborough Advisors LLC bought a new position in shares of Adobe in the 4th quarter valued at about $61,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research analyst reports. Mizuho reaffirmed a “buy” rating and issued a $640.00 target price (down from $680.00) on shares of Adobe in a report on Friday, June 7th. DA Davidson reaffirmed a “buy” rating and issued a $685.00 price objective on shares of Adobe in a research report on Thursday, March 28th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, June 14th. Oppenheimer reaffirmed an “outperform” rating and set a $580.00 price target on shares of Adobe in a report on Friday, June 14th. Finally, Melius lowered shares of Adobe from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Monday, June 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $607.67.

Adobe Price Performance

Adobe stock opened at $570.15 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The stock has a market capitalization of $252.80 billion, a P/E ratio of 50.85, a price-to-earnings-growth ratio of 2.90 and a beta of 1.30. The stock has a fifty day moving average of $488.79 and a 200-day moving average of $533.97.

Adobe (NASDAQ:ADBE) last issued its 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. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.04 earnings per share. On average, sell-side analysts expect that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has approved a stock buyback plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 96 shares of the 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 transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,940,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Anil Chakravarthy sold 100 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was 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 directly owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 96 shares of the stock in a transaction dated Tuesday, April 16th. The shares were 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 directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The disclosure for this sale can be found here. Insiders have sold 28,270 shares of company stock worth $15,165,916 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

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.