Trifecta Capital Advisors LLC Increases Holdings in Adobe Inc. (NASDAQ:ADBE)

Trifecta Capital Advisors LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 4.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,741 shares of the software company’s stock after purchasing an additional 334 shares during the period. Trifecta Capital Advisors LLC’s holdings in Adobe were worth $4,856,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ADBE. Tradewinds Capital Management LLC lifted its holdings in shares of Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after buying an additional 40 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after acquiring an additional 45 shares during the period. Summit Securities Group LLC purchased a new stake in Adobe in the 2nd quarter worth approximately $33,000. Steph & Co. boosted its holdings in Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after purchasing an additional 30 shares during the period. Finally, Lynx Investment Advisory purchased a new position in shares of Adobe during the 2nd quarter valued at $39,000. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Mark S. Garfield sold 264 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $525.51, for a total transaction of $138,734.64. Following the sale, the chief accounting officer now owns 2,740 shares of the company’s stock, valued at $1,439,897.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,501,989. The disclosure for this sale can be found here. Insiders sold 27,523 shares of company stock worth $14,994,277 over the last three months. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock opened at $574.48 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $254.72 billion, a P/E ratio of 51.62, a P/E/G ratio of 2.94 and a beta of 1.29. The business’s 50 day moving average price is $554.06 and its 200-day moving average price is $519.46. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.39 by $0.09. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.04 EPS. On average, equities research analysts anticipate that Adobe Inc. will post 14.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ADBE shares. Melius Research reiterated a “hold” rating and issued a $510.00 price objective on shares of Adobe in a research report on Monday, June 10th. Evercore ISI reiterated an “outperform” rating and set a $650.00 price target on shares of Adobe in a research report on Friday, June 7th. StockNews.com cut shares of Adobe from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Stifel Nicolaus lifted their target price on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets increased their price target on shares of Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $605.52.

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.