Advocate Group LLC Has $5.76 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Advocate Group LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,128 shares of the software company’s stock after acquiring an additional 331 shares during the period. Advocate Group LLC’s holdings in Adobe were worth $5,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ADBE. Tradewinds Capital Management LLC raised its holdings in Adobe by 266.7% during 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 during the period. Salomon & Ludwin LLC increased its position in shares of Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Adobe during the second quarter worth $33,000. Steph & Co. lifted its position in Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in Adobe in the 2nd quarter worth $39,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ADBE shares. KeyCorp boosted their price target on Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a report on Friday, June 14th. Barclays boosted their target price on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Argus raised shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a research report on Friday, September 13th. Finally, Robert W. Baird raised their target price on shares of Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Stock Performance

Shares of ADBE stock traded up $0.62 during midday trading on Thursday, hitting $494.70. 372,657 shares of the company were exchanged, compared to its average volume of 3,218,107. The firm’s 50 day moving average price is $538.76 and its two-hundred day moving average price is $515.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.11. The firm has a market capitalization of $219.35 billion, a P/E ratio of 44.39, a PEG ratio of 2.72 and a beta of 1.29. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.26 earnings per share. As a group, equities research analysts anticipate that Adobe Inc. will post 14.79 earnings per share for the current year.

Insider Activity

In other Adobe news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,579,186.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the sale, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,759 shares of company stock valued at $17,642,653. 0.15% of the stock is owned by company insiders.

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.