CVA Family Office LLC Acquires 64 Shares of Adobe Inc. (NASDAQ:ADBE)

CVA Family Office LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,405 shares of the software company’s stock after purchasing an additional 64 shares during the period. CVA Family Office LLC’s holdings in Adobe were worth $539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Adobe during the fourth quarter valued at approximately $76,712,000. Root Financial Partners LLC lifted its holdings in Adobe by 40.9% during the fourth quarter. Root Financial Partners LLC now owns 603 shares of the software company’s stock valued at $268,000 after purchasing an additional 175 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Adobe by 7.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 7,919 shares of the software company’s stock valued at $3,521,000 after purchasing an additional 523 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its holdings in Adobe by 2.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock valued at $12,882,000 after purchasing an additional 756 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 5.3%

Shares of ADBE opened at $391.68 on Friday. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a market cap of $166.93 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.15 and a beta of 1.55. 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 fifty day simple moving average is $386.76 and its 200-day simple moving average is $421.08.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the firm posted $4.48 earnings per share. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Robert W. Baird lowered their price target on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $480.00 target price on shares of Adobe in a report on Thursday, June 5th. BMO Capital Markets reissued an “outperform” rating and issued a $450.00 target price on shares of Adobe in a report on Friday. Bank of America boosted their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup boosted their target price on shares of Adobe from $430.00 to $465.00 and gave the stock a “neutral” rating in a report on Tuesday, June 10th. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $494.67.

Insider Activity

In other news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

About Adobe

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.