Benjamin Edwards Inc. Has $414,000 Position in Adobe Inc. (NASDAQ:ADBE)

Benjamin Edwards Inc. cut its stake in Adobe Inc. (NASDAQ:ADBE) by 40.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 746 shares of the software company’s stock after selling 513 shares during the period. Benjamin Edwards Inc.’s holdings in Adobe were worth $414,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Tradewinds Capital Management LLC boosted its holdings in shares of Adobe by 266.7% in the 1st 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 lifted 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 worth $29,000 after acquiring an additional 45 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Adobe in the second quarter worth about $33,000. Steph & Co. boosted its stake 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 position in Adobe during the 2nd quarter worth approximately $39,000. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the sale, the executive vice president now owns 19,658 shares in the company, valued at approximately $10,556,346. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,759 shares of company stock worth $18,205,903. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ADBE. Evercore ISI restated an “outperform” rating and issued a $650.00 target price on shares of Adobe in a research report on Friday, June 7th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Melius downgraded Adobe from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Monday, June 10th. Melius Research restated a “hold” rating and set a $510.00 price target on shares of Adobe in a report on Monday, June 10th. Finally, Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Trading Down 0.8 %

Shares of Adobe stock opened at $522.30 on Friday. The firm has a market cap of $231.59 billion, a PE ratio of 46.93, a P/E/G ratio of 3.03 and a beta of 1.29. Adobe Inc. has a 1 year low of $433.97 and a 1 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 has a fifty day moving average price of $549.18 and a 200-day moving average price of $518.73.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm earned $3.26 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Adobe Inc. will post 14.69 EPS for the current year.

About Adobe

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.