Regentatlantic Capital LLC Purchases 2,117 Shares of Adobe Inc. (NASDAQ:ADBE)

Regentatlantic Capital LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 11.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,875 shares of the software company’s stock after acquiring an additional 2,117 shares during the quarter. Regentatlantic Capital LLC’s holdings in Adobe were worth $12,225,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Factory Mutual Insurance Co. raised its position in Adobe by 38.7% during the first quarter. Factory Mutual Insurance Co. now owns 134,059 shares of the software company’s stock worth $63,727,000 after acquiring an additional 37,409 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Adobe by 19.7% during the first quarter. Verdence Capital Advisors LLC now owns 2,665 shares of the software company’s stock worth $1,267,000 after acquiring an additional 438 shares in the last quarter. FIL Ltd raised its position in shares of Adobe by 110.9% in the first quarter. FIL Ltd now owns 289,374 shares of the software company’s stock valued at $137,559,000 after purchasing an additional 152,168 shares during the period. South State Corp raised its position in shares of Adobe by 0.6% in the second quarter. South State Corp now owns 31,034 shares of the software company’s stock valued at $18,175,000 after purchasing an additional 193 shares during the period. Finally, Artemis Investment Management LLP raised its position in shares of Adobe by 50.1% in the second quarter. Artemis Investment Management LLP now owns 59,323 shares of the software company’s stock valued at $34,792,000 after purchasing an additional 19,800 shares during the period. 81.67% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently weighed in on ADBE. Robert W. Baird reissued a “buy” rating on shares of Adobe in a research report on Sunday, June 20th. Guggenheim reissued a “hold” rating on shares of Adobe in a research report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Adobe from $735.00 to $765.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada raised their price target on shares of Adobe from $575.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday, June 18th. Finally, Argus raised their price target on shares of Adobe from $650.00 to $764.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Four analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $679.57.

Shares of ADBE traded up $6.33 during mid-day trading on Thursday, reaching $632.41. The company had a trading volume of 91,299 shares, compared to its average volume of 2,228,494. The company’s 50 day simple moving average is $639.08 and its 200 day simple moving average is $556.17. Adobe Inc. has a 1-year low of $420.78 and a 1-year high of $673.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $301.28 billion, a price-to-earnings ratio of 54.79, a P/E/G ratio of 3.42 and a beta of 0.97.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Monday, September 20th. The software company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.10. Adobe had a net margin of 38.79% and a return on equity of 35.94%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the company posted $2.12 EPS. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, equities analysts forecast that Adobe Inc. will post 10.28 earnings per share for the current fiscal year.

In related news, EVP Scott Belsky sold 2,750 shares of Adobe stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $582.71, for a total transaction of $1,602,452.50. Following the sale, the executive vice president now directly owns 25,665 shares in the company, valued at approximately $14,955,252.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gloria Chen sold 42 shares of Adobe stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $659.63, for a total transaction of $27,704.46. Following the sale, the executive vice president now owns 11,831 shares in the company, valued at $7,804,082.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,530 shares of company stock worth $2,705,892. 0.23% of the stock is owned by corporate insiders.

About Adobe

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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