Trilogy Capital Inc. Acquires 576 Shares of Adobe Inc. (NASDAQ:ADBE)

Trilogy Capital Inc. boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 20.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,336 shares of the software company’s stock after acquiring an additional 576 shares during the quarter. Trilogy Capital Inc.’s holdings in Adobe were worth $1,727,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Piscataqua Savings Bank raised its holdings in shares of Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares in the last quarter. Tradewinds Capital Management LLC grew 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 valued at $28,000 after acquiring an additional 40 shares during the period. Salomon & Ludwin LLC raised its stake in Adobe by 346.2% during 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 in the last quarter. Summit Securities Group LLC bought a new position in shares of Adobe during the second quarter valued at $33,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Adobe in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 481 shares of the firm’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 $258,297.00. Following the sale, the executive vice president now owns 19,658 shares of the company’s stock, valued at $10,556,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $258,297.00. Following the completion of the sale, the executive vice president now directly owns 19,658 shares in the company, valued at $10,556,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,608 shares of company stock valued at $17,486,391. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ADBE shares. Sanford C. Bernstein dropped their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Argus raised shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Bank of America reissued a “buy” rating and issued a $640.00 target price on shares of Adobe in a report on Friday, September 13th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Barclays boosted their price objective on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Performance

Shares of ADBE stock opened at $497.71 on Tuesday. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $220.68 billion, a PE ratio of 44.72, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The stock has a 50-day moving average of $534.79 and a 200-day moving average of $515.99.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the business earned $3.26 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Adobe Inc. will post 14.8 earnings per share for the current year.

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.