Bouvel Investment Partners LLC Has $2.67 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Bouvel Investment Partners LLC lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 25.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,147 shares of the software company’s stock after selling 1,750 shares during the period. Bouvel Investment Partners LLC’s holdings in Adobe were worth $2,665,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Piscataqua Savings Bank increased its position in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Adobe in the second quarter valued at approximately $33,000. Lynx Investment Advisory bought a new stake in shares of Adobe during the second quarter valued at approximately $39,000. Hobbs Group Advisors LLC acquired a new position in shares of Adobe during the second quarter worth approximately $39,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Adobe in the 3rd quarter worth $38,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

NASDAQ ADBE opened at $532.50 on Thursday. The company’s 50 day simple moving average is $512.61 and its two-hundred day simple moving average is $517.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The stock has a market capitalization of $234.41 billion, a PE ratio of 44.97, a P/E/G ratio of 2.71 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the company earned $3.26 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts predict that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $610.00 price target on shares of Adobe in a research report on Tuesday, October 15th. Oppenheimer restated an “outperform” rating and issued a $625.00 target price on shares of Adobe in a report on Friday, September 13th. UBS Group decreased their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Barclays raised their price objective on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Sanford C. Bernstein reduced their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $606.40.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Adobe news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the transaction, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock valued at $17,736,369 over the last 90 days. Insiders own 0.15% of the company’s stock.

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.