Dohj LLC Cuts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Dohj LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 9.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,164 shares of the software company’s stock after selling 456 shares during the quarter. Adobe accounts for 1.3% of Dohj LLC’s portfolio, making the stock its 20th largest position. Dohj LLC’s holdings in Adobe were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Baldrige Asset Management LLC bought a new stake in Adobe in the 2nd quarter valued at $26,000. Harbour Investments Inc. bought a new stake in Adobe in the 1st quarter valued at $27,000. Key Financial Inc bought a new stake in Adobe in the 2nd quarter valued at $29,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Adobe in the 1st quarter worth $33,000. Finally, Summit Wealth Group LLC purchased a new position in shares of Adobe in the 1st quarter worth $48,000. Institutional investors and hedge funds own 81.67% of the company’s stock.

A number of equities analysts recently commented on the stock. Robert W. Baird reaffirmed a “buy” rating on shares of Adobe in a research note on Sunday, June 20th. Stifel Nicolaus lifted their price target on shares of Adobe from $675.00 to $725.00 and gave the stock a “buy” rating in a research note on Tuesday, September 7th. The Goldman Sachs Group boosted their price objective on shares of Adobe from $580.00 to $665.00 and gave the company a “buy” rating in a research report on Friday, June 18th. Jefferies Financial Group boosted their price objective on shares of Adobe from $560.00 to $630.00 and gave the company a “buy” rating in a research report on Monday, June 14th. Finally, Guggenheim restated a “hold” rating on shares of Adobe in a report on Sunday, June 20th. Five analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $622.54.

Shares of Adobe stock traded up $10.18 on Wednesday, hitting $655.19. 33,900 shares of the company’s stock traded hands, compared to its average volume of 2,199,907. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.30. The stock has a market cap of $312.13 billion, a P/E ratio of 55.89, a PEG ratio of 3.42 and a beta of 0.97. Adobe Inc. has a 52-week low of $420.78 and a 52-week high of $673.88. The firm’s 50-day moving average is $633.81 and its 200 day moving average is $548.61.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, June 16th. The software company reported $3.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.22. Adobe had a return on equity of 35.94% and a net margin of 38.79%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the business posted $2.45 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. Equities research analysts forecast that Adobe Inc. will post 10.28 EPS for the current year.

In other Adobe news, CMO Ann Lewnes sold 1,164 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $619.03, for a total value of $720,550.92. Following the sale, the chief marketing officer now owns 25,672 shares in the company, valued at $15,891,738.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dana Rao sold 2,833 shares of the firm’s stock in a transaction on Monday, June 21st. The shares were sold at an average price of $563.12, for a total value of $1,595,318.96. Following the completion of the sale, the executive vice president now directly owns 20,144 shares in the company, valued at approximately $11,343,489.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,363 shares of company stock valued at $7,711,611. Corporate insiders own 0.23% of the company’s stock.

Adobe Profile

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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