Fermata Advisors LLC Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

Fermata Advisors LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 782 shares of the software company’s stock after purchasing an additional 67 shares during the quarter. Fermata Advisors LLC’s holdings in Adobe were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ADBE. Tradewinds Capital Management LLC boosted its holdings in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $35,000. Steph & Co. boosted its holdings in shares of Adobe by 63.8% in the first quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. Finally, Lynx Investment Advisory acquired a new stake in shares of Adobe in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 1.1 %

ADBE stock traded up $6.06 during mid-day trading on Friday, hitting $536.30. The stock had a trading volume of 1,272,635 shares, compared to its average volume of 3,346,469. 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 1-year low of $433.97 and a 1-year high of $638.25. The company has a fifty day moving average of $528.34 and a 200 day moving average of $525.64. The stock has a market capitalization of $237.80 billion, a price-to-earnings ratio of 48.19, 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 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 company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the firm posted $3.04 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 264 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the transaction, the chief accounting officer now owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Mark S. Garfield sold 151 shares of the 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 completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,579,186.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 264 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the sale, the chief accounting officer now owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The disclosure for this sale can be found here. Insiders have sold a total of 27,523 shares of company stock valued at $14,994,277 in the last three months. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, June 14th. StockNews.com cut Adobe from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Piper Sandler Companies reiterated an “overweight” rating and issued a $635.00 price objective on shares of Adobe in a research report on Friday, July 12th. 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. Finally, BMO Capital Markets increased their price objective on Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $601.38.

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.