Bogart Wealth LLC grew its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 2,422 shares of the software company’s stock after purchasing an additional 71 shares during the quarter. Bogart Wealth LLC’s holdings in Adobe were worth $669,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Marquette Asset Management LLC raised its stake in Adobe by 114.3% during the 2nd quarter. Marquette Asset Management LLC now owns 90 shares of the software company’s stock worth $27,000 after buying an additional 48 shares during the period. JNBA Financial Advisors grew its holdings in Adobe by 666.7% during the 2nd quarter. JNBA Financial Advisors now owns 92 shares of the software company’s stock worth $27,000 after acquiring an additional 80 shares in the last quarter. Manchester Financial Inc. bought a new position in Adobe during the 2nd quarter worth about $28,000. Hexavest Inc. grew its holdings in Adobe by 58.2% during the 3rd quarter. Hexavest Inc. now owns 106 shares of the software company’s stock worth $29,000 after acquiring an additional 39 shares in the last quarter. Finally, Ellis Investment Partners LLC bought a new position in Adobe during the 2nd quarter worth about $30,000. Institutional investors own 86.27% of the company’s stock.
ADBE traded up $0.44 during trading on Thursday, reaching $274.71. 62,146 shares of the company’s stock were exchanged, compared to its average volume of 3,498,534. Adobe Inc has a 1 year low of $204.95 and a 1 year high of $313.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $134.04 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09. The company’s fifty day simple moving average is $280.09 and its 200-day simple moving average is $283.37.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.08. Adobe had a net margin of 26.10% and a return on equity of 30.49%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the firm posted $1.73 EPS. Adobe’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities analysts forecast that Adobe Inc will post 6.38 EPS for the current year.
A number of analysts have recently weighed in on ADBE shares. Stephens set a $327.00 price target on shares of Adobe and gave the company a “buy” rating in a report on Wednesday, September 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $310.00 target price (down from $315.00) on shares of Adobe in a research note on Wednesday, September 18th. Royal Bank of Canada lowered their target price on shares of Adobe from $320.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Co reiterated a “hold” rating and issued a $275.00 target price (up from $250.00) on shares of Adobe in a research note on Wednesday, June 19th. Finally, JMP Securities reiterated a “hold” rating on shares of Adobe in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $302.65.
In other Adobe news, CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $274.34, for a total transaction of $823,020.00. Following the completion of the transaction, the chief marketing officer now directly owns 52,398 shares of the company’s stock, valued at approximately $14,374,867.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dana Rao sold 2,832 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $303.36, for a total transaction of $859,115.52. The disclosure for this sale can be found here. Insiders have sold a total of 11,832 shares of company stock valued at $3,471,486 over the last three months. 0.32% of the stock is currently owned by insiders.
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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