Ieq Capital LLC Acquires 2,575 Shares of Adobe Inc. (NASDAQ:ADBE)

Ieq Capital LLC increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 50,681 shares of the software company’s stock after buying an additional 2,575 shares during the quarter. Ieq Capital LLC’s holdings in Adobe were worth $28,155,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC increased its holdings in Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after buying an additional 40 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after buying an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new stake in Adobe in the 2nd quarter worth about $33,000. Steph & Co. increased its holdings in Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after buying an additional 30 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in shares of Adobe during the 2nd quarter valued at about $39,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ADBE. Stifel Nicolaus boosted their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. UBS Group cut their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. upgraded Adobe from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $570.00 to $580.00 in a research note on Friday, June 14th. Mizuho restated a “buy” rating and set a $640.00 price target (down from $680.00) on shares of Adobe in a research note on Friday, June 7th. Finally, Sanford C. Bernstein cut their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Up 3.6 %

NASDAQ ADBE opened at $526.44 on Friday. The stock has a market cap of $233.42 billion, a PE ratio of 47.30, a P/E/G ratio of 3.03 and a beta of 1.29. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The stock’s 50 day moving average is $549.91 and its 200 day moving average is $519.04. 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 (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.26 EPS. Research analysts predict that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Insider Transactions at Adobe

In other news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,501,989. The disclosure for this sale can be found here. Insiders have sold 33,759 shares of company stock valued at $18,205,903 in the last ninety days. 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.