Adobe Inc. (NASDAQ:ADBE) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,414 shares of the software company’s stock after selling 780 shares during the period. Adobe comprises approximately 2.1% of Jacobs & Co. CA’s investment portfolio, making the stock its 5th biggest position. Jacobs & Co. CA’s holdings in Adobe were worth $17,806,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. raised its stake in shares of Adobe by 25.0% during the second quarter. Financial Management Professionals Inc. now owns 105 shares of the software company’s stock valued at $51,000 after acquiring an additional 21 shares during the last quarter. M&R Capital Management Inc. raised its stake in Adobe by 11.0% in the second quarter. M&R Capital Management Inc. now owns 222 shares of the software company’s stock worth $109,000 after buying an additional 22 shares in the last quarter. Sound Income Strategies LLC raised its stake in Adobe by 18.8% in the second quarter. Sound Income Strategies LLC now owns 152 shares of the software company’s stock worth $74,000 after buying an additional 24 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in Adobe by 1.9% in the first quarter. 180 Wealth Advisors LLC now owns 1,483 shares of the software company’s stock worth $572,000 after buying an additional 27 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in Adobe by 12.6% in the first quarter. JFS Wealth Advisors LLC now owns 241 shares of the software company’s stock worth $93,000 after buying an additional 27 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Mark S. Garfield sold 298 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $526.74, for a total value of $156,968.52. Following the sale, the chief accounting officer now directly owns 4,055 shares in the company, valued at $2,135,930.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Adobe news, CEO Shantanu Narayen sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $478.03, for a total transaction of $16,731,050.00. Following the sale, the chief executive officer now directly owns 403,352 shares of the company’s stock, valued at $192,814,356.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 298 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $526.74, for a total value of $156,968.52. Following the transaction, the chief accounting officer now directly owns 4,055 shares in the company, valued at approximately $2,135,930.70. The disclosure for this sale can be found here. Insiders have sold 43,089 shares of company stock worth $20,720,115 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADBE. 888 restated a “maintains” rating on shares of Adobe in a report on Friday, June 16th. Wolfe Research lifted their target price on Adobe from $580.00 to $650.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America lifted their target price on Adobe from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Friday. TheStreet raised Adobe from a “c+” rating to a “b-” rating in a report on Wednesday, June 21st. Finally, Evercore ISI lifted their target price on Adobe from $590.00 to $605.00 and gave the stock an “outperform” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $586.38.

Adobe Stock Performance

NASDAQ:ADBE opened at $528.39 on Monday. The stock has a 50-day simple moving average of $530.08 and a two-hundred day simple moving average of $443.78. Adobe Inc. has a 52-week low of $274.73 and a 52-week high of $570.24. The firm has a market capitalization of $240.84 billion, a PE ratio of 50.47, a P/E/G ratio of 3.32 and a beta of 1.33. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.16.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 14th. The software company reported $4.09 EPS for the quarter, beating the consensus estimate of $3.98 by $0.11. Adobe had a return on equity of 36.84% and a net margin of 26.34%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the business earned $2.63 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. Analysts forecast that Adobe Inc. will post 12.56 EPS for the current year.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, 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.