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

ProShare Advisors LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 10.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 470,241 shares of the software company’s stock after selling 51,966 shares during the quarter. Adobe accounts for approximately 0.7% of ProShare Advisors LLC’s holdings, making the stock its 18th largest holding. ProShare Advisors LLC owned 0.11% of Adobe worth $261,238,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ADBE. 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 during the period. Salomon & Ludwin LLC increased its stake in shares of Adobe by 346.2% in 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 during the period. Summit Securities Group LLC purchased a new position in shares of Adobe during the second quarter worth $33,000. Steph & Co. lifted its position in Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after purchasing an additional 30 shares during the period. Finally, Lynx Investment Advisory purchased a new stake in Adobe in the second quarter valued at $39,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 0.8 %

NASDAQ ADBE opened at $522.30 on Friday. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The stock has a market capitalization of $231.59 billion, a P/E ratio of 46.93, a PEG ratio of 3.03 and a beta of 1.29. The firm’s 50-day moving average is $549.18 and its two-hundred day moving average is $518.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company posted $3.26 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts anticipate that Adobe Inc. will post 14.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent research reports. TD Cowen reduced their price target on Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Melius lowered shares of Adobe from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Monday, June 10th. JPMorgan Chase & Co. raised shares of Adobe from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $570.00 to $580.00 in a report on Friday, June 14th. Wells Fargo & Company raised their price target on shares of Adobe from $675.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Finally, Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Buying and Selling

In other Adobe news, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Mark S. Garfield sold 151 shares of the firm’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 value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the sale, the chief executive officer now directly owns 379,660 shares in the company, valued at $206,576,802.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,759 shares of company stock valued at $18,205,903. 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.