Trilogy Capital Inc. Takes Position in Adobe Inc. (NASDAQ:ADBE)

Trilogy Capital Inc. bought a new position in Adobe Inc. (NASDAQ:ADBE) in the first quarter, according to its most recent filing with the SEC. The firm bought 1,089 shares of the software company’s stock, valued at approximately $550,000.

Several other large investors also recently bought and sold shares of the stock. Invst LLC boosted its stake in shares of Adobe by 1.9% during the third quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after acquiring an additional 17 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Adobe by 3.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock worth $285,000 after purchasing an additional 17 shares during the last quarter. Lantz Financial LLC boosted its stake in shares of Adobe by 2.5% during the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock worth $411,000 after purchasing an additional 17 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management grew its holdings in shares of Adobe by 4.3% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock worth $249,000 after buying an additional 17 shares in the last quarter. Finally, Evolution Advisers Inc. raised its position in shares of Adobe by 14.3% in the fourth quarter. Evolution Advisers Inc. now owns 136 shares of the software company’s stock valued at $79,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $555.54 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.05. The company’s fifty day moving average price is $485.04 and its two-hundred day moving average price is $534.27. The firm has a market capitalization of $246.33 billion, a P/E ratio of 49.91, a P/E/G ratio of 2.90 and a beta of 1.27. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, June 13th. The software company reported $4.48 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 business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the firm posted $3.04 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Adobe declared that its board has approved a stock buyback plan on Thursday, March 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the sale, the chief executive officer now directly owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the sale, the chief executive officer now owns 379,660 shares in the company, valued at $206,576,802.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The disclosure for this sale can be found here. In the last three months, insiders sold 28,270 shares of company stock worth $15,165,916. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Adobe from $554.00 to $529.00 and set a “neutral” rating on the stock in a research report on Monday, June 10th. Barclays lifted their price objective on Adobe from $630.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. DA Davidson reissued a “buy” rating and issued a $685.00 price target on shares of Adobe in a research note on Thursday, March 28th. HSBC dropped their price objective on shares of Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a research note on Friday, March 15th. Finally, Evercore ISI reissued an “outperform” rating and issued a $650.00 target price on shares of Adobe in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $607.67.

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.