Adobe Inc. (NASDAQ:ADBE) Holdings Raised by Sage Capital Advisors llc

Sage Capital Advisors llc increased its stake in Adobe Inc. (NASDAQ:ADBE) by 0.4% during the second quarter, HoldingsChannel reports. The firm owned 5,599 shares of the software company’s stock after acquiring an additional 21 shares during the period. Sage Capital Advisors llc’s holdings in Adobe were worth $2,738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC lifted its holdings in shares of Adobe by 278.9% in the first quarter. NewSquare Capital LLC now owns 72 shares of the software company’s stock valued at $28,000 after purchasing an additional 53 shares in the last quarter. Financial Freedom LLC acquired a new position in Adobe during the fourth quarter valued at $29,000. Financial Management Professionals Inc. lifted its stake in Adobe by 171.0% in the 1st quarter. Financial Management Professionals Inc. now owns 84 shares of the software company’s stock worth $32,000 after acquiring an additional 53 shares in the last quarter. Independence Bank of Kentucky boosted its position in Adobe by 209.1% during the 2nd quarter. Independence Bank of Kentucky now owns 68 shares of the software company’s stock worth $33,000 after acquiring an additional 46 shares during the period. Finally, Fortis Capital Advisors LLC purchased a new position in Adobe during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Shantanu Narayen sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $478.03, for a total value of $16,731,050.00. Following the completion of the sale, the chief executive officer now owns 403,352 shares of the company’s stock, valued at $192,814,356.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director John E. Warnock sold 3,000 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $481.41, for a total transaction of $1,444,230.00. Following the transaction, the director now owns 372,965 shares of the company’s stock, valued at $179,549,080.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Shantanu Narayen sold 35,000 shares of Adobe stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $478.03, for a total value of $16,731,050.00. Following the completion of the sale, the chief executive officer now owns 403,352 shares of the company’s stock, valued at $192,814,356.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,089 shares of company stock valued at $20,720,115. Insiders own 0.24% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE traded down $0.46 during mid-day trading on Tuesday, hitting $531.96. 545,038 shares of the stock were exchanged, compared to its average volume of 3,207,666. Adobe Inc. has a twelve month low of $274.73 and a twelve month high of $570.24. The stock’s fifty day simple moving average is $530.08 and its two-hundred day simple moving average is $443.78. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.25. The company has a market cap of $242.47 billion, a P/E ratio of 48.00, a PEG ratio of 3.17 and a beta of 1.33.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 14th. The software company reported $4.09 EPS for the quarter, topping the consensus estimate of $3.98 by $0.11. Adobe had a return on equity of 37.73% and a net margin of 27.11%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the business earned $2.63 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts forecast that Adobe Inc. will post 12.58 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of a number of research analyst reports. Wolfe Research increased their price target on shares of Adobe from $580.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday. TD Cowen increased their target price on shares of Adobe from $600.00 to $630.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Adobe from $600.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, September 12th. Jefferies Financial Group increased their price objective on Adobe from $600.00 to $660.00 and gave the stock a “buy” rating in a report on Monday, September 11th. Finally, Barclays lifted their price objective on Adobe from $620.00 to $640.00 and gave the company an “equal weight” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $588.15.

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.