Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Quent Capital LLC

Quent Capital LLC boosted its position in Adobe Inc. (NASDAQ:ADBE) by 5.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,081 shares of the software company’s stock after buying an additional 100 shares during the period. Quent Capital LLC’s holdings in Adobe were worth $925,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC boosted its holdings in Adobe by 27.1% in the third quarter. Sound Income Strategies LLC now owns 253 shares of the software company’s stock worth $131,000 after purchasing an additional 54 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in shares of Adobe by 5.1% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 511 shares of the software company’s stock worth $265,000 after buying an additional 25 shares during the last quarter. Stablepoint Partners LLC boosted its holdings in shares of Adobe by 4.7% in the 3rd quarter. Stablepoint Partners LLC now owns 1,515 shares of the software company’s stock valued at $784,000 after buying an additional 68 shares during the period. Fiduciary Alliance LLC grew its position in shares of Adobe by 10.8% during the 3rd quarter. Fiduciary Alliance LLC now owns 583 shares of the software company’s stock valued at $302,000 after buying an additional 57 shares during the last quarter. Finally, CX Institutional raised its stake in Adobe by 4.2% during the third quarter. CX Institutional now owns 2,298 shares of the software company’s stock worth $1,190,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 1.7 %

ADBE stock opened at $458.82 on Wednesday. The firm has a market cap of $199.72 billion, a PE ratio of 37.00, a P/E/G ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $626.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $452.62 and a 200 day simple moving average of $498.52.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.52 EPS. Equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Oppenheimer reduced their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Bank of America dropped their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Royal Bank of Canada cut their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Jefferies Financial Group lowered their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $573.00.

Insider Buying and Selling

In other news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by corporate insiders.

Adobe 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.