Adobe Inc. (NASDAQ:ADBE) Shares Sold by Boenning & Scattergood Inc.

Boenning & Scattergood Inc. trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBEGet Rating) by 36.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 657 shares of the software company’s stock after selling 378 shares during the period. Boenning & Scattergood Inc.’s holdings in Adobe were worth $241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Delos Wealth Advisors LLC lifted its position in shares of Adobe by 169.6% during the 4th quarter. Delos Wealth Advisors LLC now owns 62 shares of the software company’s stock valued at $35,000 after acquiring an additional 39 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Adobe during the 1st quarter worth approximately $31,000. Ulland Investment Advisors LLC increased its stake in shares of Adobe by 60.0% during the 1st quarter. Ulland Investment Advisors LLC now owns 80 shares of the software company’s stock worth $36,000 after purchasing an additional 30 shares in the last quarter. Rather & Kittrell Inc. purchased a new position in shares of Adobe during the 4th quarter worth approximately $47,000. Finally, Creative Financial Designs Inc. ADV increased its stake in shares of Adobe by 62.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 86 shares of the software company’s stock worth $39,000 after purchasing an additional 33 shares in the last quarter. 80.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, CMO Ann Lewnes sold 794 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $400.00, for a total value of $317,600.00. Following the completion of the sale, the chief marketing officer now directly owns 23,988 shares of the company’s stock, valued at approximately $9,595,200. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CMO Ann Lewnes sold 794 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $400.00, for a total transaction of $317,600.00. Following the completion of the sale, the chief marketing officer now directly owns 23,988 shares of the company’s stock, valued at $9,595,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 2,711 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $393.58, for a total transaction of $1,066,995.38. Following the sale, the executive vice president now directly owns 26,089 shares of the company’s stock, valued at $10,268,108.62. The disclosure for this sale can be found here. In the last three months, insiders sold 3,769 shares of company stock valued at $1,477,562. Company insiders own 0.23% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $287.06 on Friday. The company has a 50-day moving average price of $389.95 and a two-hundred day moving average price of $403.64. The stock has a market cap of $134.34 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. Adobe Inc. has a 52 week low of $280.06 and a 52 week high of $699.54. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.25.

Adobe (NASDAQ:ADBEGet Rating) last issued its quarterly earnings results on Thursday, September 15th. The software company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.07. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.44 billion. Adobe had a net margin of 28.00% and a return on equity of 36.49%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.65 EPS. Analysts forecast that Adobe Inc. will post 11.1 EPS for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of recent research reports. Citigroup raised their price objective on shares of Adobe from $380.00 to $388.00 and gave the stock a “neutral” rating in a research note on Thursday, September 15th. Morgan Stanley lowered their target price on shares of Adobe from $362.00 to $337.00 and set an “equal weight” rating for the company in a research note on Friday, September 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Adobe from $500.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, September 16th. Mizuho reduced their target price on shares of Adobe from $440.00 to $360.00 in a report on Friday, September 16th. Finally, Edward Jones lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Monday. Sixteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $427.11.

Adobe Profile

(Get Rating)

Adobe Inc 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.

Recommended Stories

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBEGet Rating).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.