Aspire Private Capital LLC Has $861,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Aspire Private Capital LLC lessened its position in Adobe Inc. (NASDAQ:ADBE) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,550 shares of the software company’s stock after selling 184 shares during the period. Aspire Private Capital LLC’s holdings in Adobe were worth $861,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Adobe by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock worth $20,511,473,000 after purchasing an additional 382,803 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock valued at $3,857,189,000 after acquiring an additional 1,146,718 shares during the period. Norges Bank bought a new position in Adobe in the fourth quarter valued at about $3,277,785,000. Fisher Asset Management LLC increased its position in Adobe by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 4,560,086 shares of the software company’s stock worth $2,720,548,000 after purchasing an additional 16,379 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Adobe by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,602,297 shares of the software company’s stock worth $1,552,530,000 after purchasing an additional 66,180 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 151 shares of the 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction 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 owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. The disclosure for this sale can be found here. Insiders have sold a total of 27,523 shares of company stock worth $14,994,277 over the last 90 days. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of ADBE traded down $5.37 during trading hours on Monday, hitting $530.93. The company had a trading volume of 1,450,295 shares, compared to its average volume of 3,334,158. The firm has a market cap of $235.41 billion, a price-to-earnings ratio of 47.44, a PEG ratio of 2.85 and a beta of 1.30. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The business has a fifty day moving average of $528.34 and a 200-day moving average of $525.07.

Adobe (NASDAQ:ADBE) last posted 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. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $3.04 EPS. Equities analysts anticipate that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ADBE. Wells Fargo & Company lifted their price target on shares of Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. KeyCorp raised their price target on Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a research report on Friday, June 14th. Sanford C. Bernstein upped their price objective on Adobe from $653.00 to $660.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Oppenheimer restated an “outperform” rating and set a $580.00 target price on shares of Adobe in a report on Friday, June 14th. Finally, Stifel Nicolaus lowered 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 assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.