Boenning & Scattergood Inc. Has $241,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Boenning & Scattergood Inc. reduced its position in shares of Adobe Inc. (NASDAQ:ADBEGet Rating) by 36.5% in the 2nd quarter, according to the company in its most recent 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 large investors have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Adobe during the 1st quarter worth $31,000. Delos Wealth Advisors LLC boosted its holdings 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 worth $35,000 after buying an additional 39 shares during the period. Ulland Investment Advisors LLC boosted its holdings 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 buying an additional 30 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings 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 buying an additional 33 shares during the period. Finally, Steward Financial Group LLC boosted its holdings in shares of Adobe by 770.0% during the 1st quarter. Steward Financial Group LLC now owns 87 shares of the software company’s stock worth $39,000 after buying an additional 77 shares during the period. 80.75% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Mark S. Garfield sold 132 shares of Adobe stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $294.54, for a total transaction of $38,879.28. Following the transaction, the chief accounting officer now owns 2,596 shares of the company’s stock, valued at approximately $764,625.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Mark S. Garfield sold 132 shares of Adobe stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $294.54, for a total transaction of $38,879.28. Following the transaction, the chief accounting officer now owns 2,596 shares of the company’s stock, valued at approximately $764,625.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Ann Lewnes sold 794 shares of Adobe stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $400.00, for a total transaction of $317,600.00. Following the transaction, the chief marketing officer now directly owns 23,988 shares in the company, valued at approximately $9,595,200. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,769 shares of company stock valued at $1,477,562. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

ADBE has been the subject of a number of research reports. Bank of America downgraded shares of Adobe from a “buy” rating to a “neutral” rating and reduced their price target for the company from $450.00 to $350.00 in a report on Friday, September 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Adobe from $500.00 to $400.00 and set a “buy” rating for the company in a report on Friday, September 16th. Edward Jones downgraded shares of Adobe from a “buy” rating to a “hold” rating in a report on Monday. Citigroup increased their price target on shares of Adobe from $380.00 to $388.00 and gave the company a “neutral” rating in a report on Thursday, September 15th. Finally, Morgan Stanley reduced their price objective on shares of Adobe from $362.00 to $337.00 and set an “equal weight” rating for the company in a report on Friday, September 16th. Sixteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Hold” and a consensus price target of $427.11.

Adobe Stock Up 0.3 %

Shares of NASDAQ ADBE opened at $287.06 on Friday. The firm has a market capitalization of $134.34 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. 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 Inc. has a 1 year low of $280.06 and a 1 year high of $699.54. The firm’s 50-day moving average is $389.95 and its 200-day moving average is $403.64.

Adobe (NASDAQ:ADBEGet Rating) last issued its earnings results on Thursday, September 15th. The software company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.07. The company had revenue of $4.43 billion for 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 company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.65 EPS. Equities analysts expect that Adobe Inc. will post 11.1 EPS for the current year.

About Adobe

(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.