Cetera Advisors LLC Buys 10,183 Shares of Adobe Inc. (NASDAQ:ADBE)

Cetera Advisors LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 52.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,749 shares of the software company’s stock after buying an additional 10,183 shares during the period. Cetera Advisors LLC’s holdings in Adobe were worth $15,011,000 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. Barlow Wealth Partners Inc. bought a new stake in shares of Adobe in the 4th quarter worth $16,700,000. Federated Hermes Inc. increased its holdings in shares of Adobe by 22.6% in the 4th quarter. Federated Hermes Inc. now owns 223,667 shares of the software company’s stock worth $133,440,000 after purchasing an additional 41,164 shares in the last quarter. Vise Technologies Inc. increased its holdings in shares of Adobe by 267.3% in the 4th quarter. Vise Technologies Inc. now owns 7,769 shares of the software company’s stock worth $4,635,000 after purchasing an additional 5,654 shares in the last quarter. Steph & Co. increased its holdings in shares of Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Naviter Wealth LLC increased its holdings in shares of Adobe by 39.7% in the 4th quarter. Naviter Wealth LLC now owns 3,502 shares of the software company’s stock worth $2,089,000 after purchasing an additional 996 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock traded down $20.24 during trading hours on Friday, hitting $526.17. The stock had a trading volume of 2,729,113 shares, compared to its average volume of 2,285,513. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s 50-day moving average price is $522.70 and its two-hundred day moving average price is $528.91. The stock has a market capitalization of $233.30 billion, a price-to-earnings ratio of 47.27, a PEG ratio of 2.85 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the previous year, the firm posted $3.04 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Adobe Inc. will post 14.69 EPS for the current year.

Insider Transactions at Adobe

In other Adobe news, CAO Mark S. Garfield sold 264 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the sale, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at $1,439,897.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 151 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 264 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $525.51, for a total value of $138,734.64. Following the sale, the chief accounting officer now directly owns 2,740 shares in the company, valued at $1,439,897.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,523 shares of company stock valued at $14,994,277. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on ADBE. KeyCorp lifted their target price on Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a report on Friday, June 14th. JPMorgan Chase & Co. upgraded Adobe from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $570.00 to $580.00 in a research note on Friday, June 14th. Evercore ISI restated an “outperform” rating and issued a $650.00 price target on shares of Adobe in a research note on Friday, June 7th. Melius Research restated a “hold” rating and issued a $510.00 price target on shares of Adobe in a research note on Monday, June 10th. Finally, Barclays raised their price target on Adobe from $630.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $601.38.

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.