Alera Investment Advisors LLC Raises Stake in Adobe Inc. (NASDAQ:ADBE)

Alera Investment Advisors LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 19.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 471 shares of the software company’s stock after purchasing an additional 78 shares during the quarter. Alera Investment Advisors LLC’s holdings in Adobe were worth $238,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Lantz Financial LLC grew its holdings in shares of Adobe by 2.5% during the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock worth $411,000 after purchasing an additional 17 shares during the period. B & T Capital Management DBA Alpha Capital Management grew its holdings in shares of Adobe by 4.3% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock worth $249,000 after purchasing an additional 17 shares during the period. Evolution Advisers Inc. grew its holdings in shares of Adobe by 14.3% during the 4th quarter. Evolution Advisers Inc. now owns 136 shares of the software company’s stock worth $79,000 after purchasing an additional 17 shares during the period. Sound View Wealth Advisors Group LLC grew its holdings in shares of Adobe by 2.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 696 shares of the software company’s stock worth $415,000 after purchasing an additional 17 shares during the period. Finally, Wade G W & Inc. grew its holdings in shares of Adobe by 0.5% during the 4th quarter. Wade G W & Inc. now owns 3,712 shares of the software company’s stock worth $2,215,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Anil Chakravarthy sold 100 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the transaction, the insider now owns 33,609 shares of the company’s stock, valued at $15,829,839. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total value of $85,254.60. Following the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,855 shares of company stock valued at $16,063,203. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research reports. Evercore ISI reiterated an “outperform” rating and set a $650.00 target price on shares of Adobe in a report on Friday, June 7th. Citigroup decreased their price target on Adobe from $554.00 to $529.00 and set a “neutral” rating for the company in a report on Monday, June 10th. Stifel Nicolaus decreased their price target on Adobe from $625.00 to $600.00 and set a “buy” rating for the company in a report on Friday, June 7th. DA Davidson restated a “buy” rating and issued a $685.00 price target on shares of Adobe in a report on Thursday, March 28th. Finally, Robert W. Baird upped their price target on Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $603.33.

Adobe Stock Performance

ADBE traded down $5.85 during trading on Friday, reaching $551.00. 2,601,942 shares of the company were exchanged, compared to its average volume of 2,842,636. The stock has a market cap of $244.31 billion, a P/E ratio of 49.51, a PEG ratio of 2.88 and a beta of 1.30. The firm has a 50 day moving average of $510.98 and a 200 day moving average of $531.53. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 52 week low of $433.97 and a 52 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 analysts’ consensus estimates of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the business earned $3.04 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Adobe 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.