Second Line Capital LLC Has $2.50 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Second Line Capital LLC increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,505 shares of the software company’s stock after buying an additional 404 shares during the period. Adobe accounts for 0.8% of Second Line Capital LLC’s holdings, making the stock its 28th largest position. Second Line Capital LLC’s holdings in Adobe were worth $2,503,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Coastal Bridge Advisors LLC raised its holdings in Adobe by 7.1% in the 2nd quarter. Coastal Bridge Advisors LLC now owns 1,427 shares of the software company’s stock valued at $793,000 after acquiring an additional 94 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Adobe by 14.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 145,790 shares of the software company’s stock worth $80,987,000 after purchasing an additional 18,742 shares during the period. NewEdge Advisors LLC raised its stake in Adobe by 19.3% in the second quarter. NewEdge Advisors LLC now owns 40,867 shares of the software company’s stock valued at $22,704,000 after purchasing an additional 6,622 shares in the last quarter. Magnolia Capital Advisors LLC raised its stake in Adobe by 13.9% in the second quarter. Magnolia Capital Advisors LLC now owns 664 shares of the software company’s stock valued at $369,000 after purchasing an additional 81 shares in the last quarter. Finally, Aviso Wealth Management lifted its position in Adobe by 6.8% during the second quarter. Aviso Wealth Management now owns 487 shares of the software company’s stock worth $271,000 after purchasing an additional 31 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction 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 sale, the chief financial officer now 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 is accessible through this hyperlink. Also, EVP Scott Belsky sold 1,530 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $560.23, for a total transaction of $857,151.90. Following the transaction, the executive vice president now directly owns 20,359 shares in the company, valued at $11,405,722.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,759 shares of company stock worth $17,642,653. Company insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $515.48 on Monday. The stock has a market capitalization of $228.56 billion, a PE ratio of 46.31, a PEG ratio of 2.72 and a beta of 1.29. The business’s 50 day simple moving average is $545.13 and its 200 day simple moving average is $516.82. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.16. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $3.26 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Adobe Inc. will post 14.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several recent analyst reports. TD Cowen decreased their target price on shares of Adobe from $640.00 to $625.00 and set a “buy” rating on the stock in a report on Monday, June 10th. Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Melius Research restated a “hold” rating and set a $510.00 target price on shares of Adobe in a research note on Monday, June 10th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Finally, Robert W. Baird upped their price objective on Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.