Adobe Inc. (NASDAQ:ADBE) Shares Bought by Boston Family Office LLC

Boston Family Office LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,190 shares of the software company’s stock after purchasing an additional 71 shares during the quarter. Boston Family Office LLC’s holdings in Adobe were worth $13,581,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ADBE. Baldrige Asset Management LLC acquired a new position in Adobe during the 2nd quarter valued at approximately $26,000. Harbour Investments Inc. bought a new stake in Adobe during the 1st quarter valued at $27,000. Key Financial Inc bought a new stake in Adobe during the 2nd quarter valued at $29,000. Stuart Chaussee & Associates Inc. bought a new stake in Adobe during the 1st quarter valued at $33,000. Finally, Atlantic Trust LLC bought a new stake in Adobe during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 81.67% of the company’s stock.

NASDAQ ADBE traded down $16.99 on Monday, reaching $605.72. The stock had a trading volume of 79,577 shares, compared to its average volume of 2,235,891. The business has a 50 day moving average price of $639.91 and a 200 day moving average price of $559.77. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.30. Adobe Inc. has a 1 year low of $420.78 and a 1 year high of $673.88. The company has a market capitalization of $288.57 billion, a price-to-earnings ratio of 53.96, a P/E/G ratio of 3.42 and a beta of 0.97.

Adobe (NASDAQ:ADBE) last issued its earnings results on Monday, September 20th. The software company reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.10. Adobe had a return on equity of 35.94% and a net margin of 38.79%. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, analysts anticipate that Adobe Inc. will post 10.28 earnings per share for the current fiscal year.

Several analysts have weighed in on ADBE shares. The Goldman Sachs Group lifted their target price on Adobe from $735.00 to $765.00 and gave the company a “buy” rating in a research note on Wednesday, September 22nd. boosted their price objective on Adobe from $523.00 to $575.00 and gave the stock a “neutral” rating in a research note on Friday, June 18th. Bank of America boosted their price objective on Adobe from $570.00 to $640.00 and gave the stock a “buy” rating in a research note on Friday, June 18th. Royal Bank of Canada boosted their price objective on Adobe from $575.00 to $650.00 and gave the stock an “outperform” rating in a research note on Friday, June 18th. Finally, Mizuho reissued a “buy” rating and issued a $695.00 price objective (up previously from $640.00) on shares of Adobe in a research note on Friday, September 17th. Four equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $679.57.

In related news, EVP Dana Rao sold 488 shares of the business’s stock in a transaction dated Tuesday, July 27th. The stock was sold at an average price of $621.71, for a total transaction of $303,394.48. Following the completion of the transaction, the executive vice president now owns 14,579 shares of the company’s stock, valued at approximately $9,063,910.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Ann Lewnes sold 1,164 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $619.03, for a total value of $720,550.92. Following the completion of the transaction, the chief marketing officer now directly owns 25,672 shares of the company’s stock, valued at approximately $15,891,738.16. The disclosure for this sale can be found here. Insiders sold 1,737 shares of company stock valued at $1,078,558 in the last ninety days. Insiders own 0.23% of the company’s stock.

Adobe Company Profile

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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