Adobe Inc. (NASDAQ:ADBE) Shares Bought by RPG Investment Advisory LLC

RPG Investment Advisory LLC raised its position in Adobe Inc. (NASDAQ:ADBE) by 1.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,604 shares of the software company’s stock after acquiring an additional 332 shares during the quarter. RPG Investment Advisory LLC’s holdings in Adobe were worth $10,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Connable Office Inc. boosted its holdings in Adobe by 0.5% during the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after buying an additional 20 shares in the last quarter. 1ST Source Bank boosted its stake in Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after purchasing an additional 20 shares during the period. James J. Burns & Company LLC boosted its stake in Adobe by 5.6% in the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock worth $215,000 after purchasing an additional 22 shares during the period. Holistic Financial Partners lifted its position in Adobe by 6.0% in the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock worth $200,000 after buying an additional 22 shares in the last quarter. Finally, Latitude Advisors LLC lifted its position in Adobe by 4.3% in the 3rd quarter. Latitude Advisors LLC now owns 555 shares of the software company’s stock worth $287,000 after buying an additional 23 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Transactions at Adobe

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

Adobe Trading Down 2.3 %

Shares of Adobe stock opened at $444.32 on Monday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $587.75. The company has a market cap of $193.41 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.20 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $440.46 and its 200-day moving average price is $493.88.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Thursday. Citigroup decreased their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Stifel Nicolaus decreased their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. DA Davidson decreased their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $570.88.

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.