Adobe Inc. (NASDAQ:ADBE) Shares Bought by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its position in Adobe Inc. (NASDAQ:ADBE) by 6.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,668 shares of the software company’s stock after acquiring an additional 214 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Adobe were worth $2,038,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tradewinds Capital Management LLC raised its position in 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 acquiring an additional 40 shares in the last quarter. Salomon & Ludwin LLC grew its stake in shares of 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 purchasing an additional 45 shares during the period. Summit Securities Group LLC acquired a new position in shares of Adobe during the 2nd quarter worth $33,000. 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 valued at $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new stake in shares of Adobe in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.8 %

Adobe stock traded up $4.78 during trading on Friday, hitting $574.41. The company’s stock had a trading volume of 1,982,224 shares, compared to its average volume of 3,201,657. The stock’s fifty day moving average is $549.50 and its 200 day moving average is $519.90. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The stock has a market capitalization of $254.69 billion, a price-to-earnings ratio of 51.61, a P/E/G ratio of 2.85 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the company posted $3.04 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Adobe Inc. will post 14.69 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly 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 is available at this link. In other news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,501,989. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $560.23, for a total transaction of $857,151.90. Following the completion of the transaction, the executive vice president now owns 20,359 shares in the company, valued at approximately $11,405,722.57. 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 over the last quarter. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADBE shares. Piper Sandler Companies restated an “overweight” rating and set a $635.00 target price on shares of Adobe in a research report on Friday, July 12th. Robert W. Baird raised their price objective on Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. Oppenheimer reiterated an “outperform” rating and set a $580.00 target price on shares of Adobe in a research report on Friday, June 14th. Mizuho reissued a “buy” rating and issued a $640.00 target price (down previously from $680.00) on shares of Adobe in a report on Friday, June 7th. Finally, Stifel Nicolaus cut their price target on Adobe from $625.00 to $600.00 and set a “buy” rating for the company in a research note on Friday, June 7th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.