RDA Financial Network Raises Stock Position in Adobe Inc. (NASDAQ:ADBE)

RDA Financial Network increased its stake in Adobe Inc. (NASDAQ:ADBEGet Rating) by 11.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,552 shares of the software company’s stock after acquiring an additional 578 shares during the quarter. Adobe makes up about 1.1% of RDA Financial Network’s portfolio, making the stock its 24th biggest holding. RDA Financial Network’s holdings in Adobe were worth $2,530,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in ADBE. Investment Research & Advisory Group Inc. boosted its position in shares of Adobe by 2,350.0% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 49 shares of the software company’s stock valued at $28,000 after acquiring an additional 47 shares during the last quarter. Clear Investment Research LLC boosted its position in shares of Adobe by 120.0% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the software company’s stock valued at $31,000 after acquiring an additional 30 shares during the last quarter. Blue Bell Private Wealth Management LLC acquired a new position in shares of Adobe during the 4th quarter valued at about $33,000. Benjamin Edwards Inc. acquired a new position in shares of Adobe during the 4th quarter valued at about $35,000. Finally, Delos Wealth Advisors LLC boosted its position in shares of Adobe by 169.6% during the 4th quarter. Delos Wealth Advisors LLC now owns 62 shares of the software company’s stock valued at $35,000 after acquiring an additional 39 shares during the last quarter. 82.54% of the stock is owned by institutional investors and hedge funds.

In other Adobe news, CAO Mark S. Garfield sold 463 shares of the stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $425.79, for a total value of $197,140.77. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John E. Warnock sold 5,000 shares of the stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $404.30, for a total value of $2,021,500.00. Following the completion of the sale, the director now directly owns 405,165 shares of the company’s stock, valued at $163,808,209.50. The disclosure for this sale can be found here. Insiders sold 11,538 shares of company stock worth $4,793,387 over the last quarter. 0.23% of the stock is currently owned by insiders.

Shares of ADBE stock traded up $7.29 during trading hours on Wednesday, reaching $370.28. 33,760 shares of the stock were exchanged, compared to its average volume of 3,362,231. The business’s fifty day moving average is $404.85 and its two-hundred day moving average is $468.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.04. Adobe Inc. has a 12-month low of $338.00 and a 12-month high of $699.54. The firm has a market capitalization of $174.96 billion, a P/E ratio of 35.45, a P/E/G ratio of 1.97 and a beta of 1.08.

Adobe (NASDAQ:ADBEGet Rating) last released its earnings results on Thursday, June 16th. The software company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. Adobe had a net margin of 29.29% and a return on equity of 36.70%. During the same quarter last year, the business earned $2.56 EPS. As a group, equities research analysts predict that Adobe Inc. will post 10.95 earnings per share for the current fiscal year.

ADBE has been the topic of several recent research reports. Barclays lowered their price target on shares of Adobe from $530.00 to $445.00 and set an “overweight” rating on the stock in a research report on Friday, June 17th. Cowen decreased their target price on shares of Adobe from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, June 17th. Cowen decreased their target price on shares of Adobe from $550.00 to $520.00 in a research report on Friday, June 17th. Royal Bank of Canada decreased their target price on shares of Adobe from $600.00 to $500.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 14th. Finally, Jefferies Financial Group decreased their target price on shares of Adobe from $550.00 to $500.00 in a research report on Friday, June 17th. Seven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $489.31.

About Adobe (Get Rating)

Adobe Inc 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.

Featured Stories

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBEGet Rating).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.