Ted Buchan & Co Takes Position in Adobe Inc. (NASDAQ:ADBE)

Ted Buchan & Co acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,327 shares of the software company’s stock, valued at approximately $737,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tradewinds Capital Management LLC increased its holdings in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Salomon & Ludwin LLC increased its holdings in Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after purchasing an additional 45 shares during the period. Summit Securities Group LLC acquired a new stake in Adobe in the second quarter valued at $33,000. Lynx Investment Advisory acquired a new stake in Adobe in the second quarter valued at $39,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Adobe during the 2nd quarter worth about $39,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction 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 sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The disclosure for this sale can be found here. Insiders sold 33,759 shares of company stock worth $17,642,653 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Up 0.4 %

Adobe stock opened at $517.78 on Tuesday. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The firm has a market capitalization of $229.58 billion, a price-to-earnings ratio of 46.52, a P/E/G ratio of 2.72 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $544.38 and a 200 day simple moving average of $516.45.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.26 EPS. On average, analysts predict that Adobe Inc. will post 14.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup increased their price target on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. TD Cowen decreased their price target on Adobe from $640.00 to $625.00 and set a “buy” rating 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 raised their price target for the company from $570.00 to $580.00 in a research report on Friday, June 14th. Robert W. Baird raised their price target 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. Finally, BMO Capital Markets raised their price target on shares of Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.