Adobe Inc. (NASDAQ:ADBE) Stock Holdings Boosted by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lifted its position in Adobe Inc. (NASDAQ:ADBE) by 36.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,063 shares of the software company’s stock after buying an additional 6,718 shares during the period. Foundations Investment Advisors LLC’s holdings in Adobe were worth $13,923,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Adobe during the fourth quarter worth $1,468,000. Concentrum Wealth Management raised its position in shares of Adobe by 11.3% in the fourth quarter. Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock valued at $1,435,194,000 after purchasing an additional 244,008 shares during the period. Aveo Capital Partners LLC lifted its stake in shares of Adobe by 5.9% in the fourth quarter. Aveo Capital Partners LLC now owns 932 shares of the software company’s stock worth $556,000 after buying an additional 52 shares during the last quarter. Sheets Smith Wealth Management bought a new stake in shares of Adobe during the 4th quarter worth $353,000. Finally, Gallacher Capital Management LLC acquired a new position in Adobe in the 4th quarter valued at $234,000. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Mark S. Garfield sold 264 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the sale, the chief accounting officer now owns 2,740 shares of the company’s stock, valued at $1,439,897.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,501,989. The disclosure for this sale can be found here. Insiders have sold a total of 27,523 shares of company stock valued at $14,994,277 in the last three months. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. KeyCorp raised their target price on Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a report on Friday, June 14th. Oppenheimer boosted their target price on shares of Adobe from $580.00 to $625.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays upped their target price on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $600.00 price target on shares of Adobe in a research report on Thursday, August 1st. Finally, StockNews.com lowered shares of Adobe from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $603.79.

Adobe Trading Up 0.8 %

Shares of ADBE stock traded up $4.51 on Wednesday, reaching $575.55. The company had a trading volume of 197,919 shares, compared to its average volume of 3,181,383. The stock has a market cap of $255.20 billion, a PE ratio of 51.95, a PEG ratio of 3.00 and a beta of 1.30. The company has a 50-day moving average of $552.21 and a 200-day moving average of $518.52. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.39 by $0.09. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. On average, equities analysts forecast that Adobe Inc. will post 14.69 earnings per share 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.