70 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Oliver Lagore Vanvalin Investment Group

Oliver Lagore Vanvalin Investment Group bought a new position in shares of Adobe Inc. (NASDAQ:ADBEGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 70 shares of the software company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MUFG Securities EMEA plc boosted its position in shares of Adobe by 27.9% during the 1st quarter. MUFG Securities EMEA plc now owns 4,563 shares of the software company’s stock worth $2,079,000 after acquiring an additional 996 shares in the last quarter. Select Equity Group L.P. purchased a new stake in Adobe during the 1st quarter valued at approximately $57,922,000. Vident Investment Advisory LLC raised its stake in Adobe by 17.7% during the 4th quarter. Vident Investment Advisory LLC now owns 8,751 shares of the software company’s stock valued at $4,962,000 after acquiring an additional 1,318 shares during the last quarter. PFG Advisors raised its stake in Adobe by 8.1% during the 1st quarter. PFG Advisors now owns 4,403 shares of the software company’s stock valued at $2,006,000 after acquiring an additional 330 shares during the last quarter. Finally, Mirova US LLC raised its stake in Adobe by 26.5% during the 1st quarter. Mirova US LLC now owns 606,103 shares of the software company’s stock valued at $276,157,000 after acquiring an additional 126,810 shares during the last quarter. 80.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Adobe news, CMO Ann Lewnes sold 794 shares of Adobe stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $400.00, for a total value of $317,600.00. Following the transaction, the chief marketing officer now owns 23,988 shares in the company, valued at $9,595,200. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Adobe news, CAO Mark S. Garfield sold 132 shares of Adobe stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $409.75, for a total transaction of $54,087.00. Following the transaction, the chief accounting officer now directly owns 2,465 shares in the company, valued at approximately $1,010,033.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Ann Lewnes sold 794 shares of Adobe stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $400.00, for a total transaction of $317,600.00. Following the transaction, the chief marketing officer now owns 23,988 shares in the company, valued at $9,595,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,637 shares of company stock worth $1,438,682. 0.23% of the stock is owned by insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $299.50 on Friday. Adobe Inc. has a 12 month low of $292.14 and a 12 month high of $699.54. The stock has a market cap of $140.17 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 2.05 and a beta of 1.14. The stock’s 50 day moving average price is $398.63 and its 200 day moving average price is $409.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBEGet Rating) last announced its earnings results on Thursday, September 15th. The software company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.33 by $0.07. The firm had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Adobe had a return on equity of 36.70% and a net margin of 29.29%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.65 earnings per share. Equities research analysts anticipate that Adobe Inc. will post 10.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ADBE shares. Cowen reduced their price objective on Adobe from $520.00 to $400.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer downgraded Adobe from an “outperform” rating to a “market perform” rating in a research note on Thursday. Jefferies Financial Group cut their target price on Adobe from $550.00 to $500.00 in a research note on Friday, June 17th. Deutsche Bank Aktiengesellschaft cut their target price on Adobe from $500.00 to $400.00 and set a “buy” rating for the company in a research note on Friday. Finally, Credit Suisse Group cut their target price on Adobe from $425.00 to $350.00 and set a “neutral” rating for the company in a research note on Friday. Fourteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $434.35.

Adobe Profile

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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.

See Also

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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