KC Investment Advisors LLC Has $1.54 Million Stake in Adobe Inc. (NASDAQ:ADBE)

KC Investment Advisors LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,635 shares of the software company’s stock after acquiring an additional 72 shares during the period. Adobe accounts for approximately 1.2% of KC Investment Advisors LLC’s portfolio, making the stock its 12th biggest position. KC Investment Advisors LLC’s holdings in Adobe were worth $1,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ten Capital Wealth Advisors LLC lifted its stake in Adobe by 5.9% in the second quarter. Ten Capital Wealth Advisors LLC now owns 289 shares of the software company’s stock valued at $169,000 after acquiring an additional 16 shares during the last quarter. Reilly Financial Advisors LLC lifted its stake in Adobe by 1.2% in the second quarter. Reilly Financial Advisors LLC now owns 1,467 shares of the software company’s stock valued at $859,000 after acquiring an additional 17 shares during the last quarter. Beaumont Financial Partners LLC lifted its stake in Adobe by 1.0% in the second quarter. Beaumont Financial Partners LLC now owns 1,742 shares of the software company’s stock valued at $1,023,000 after acquiring an additional 17 shares during the last quarter. EPG Wealth Management LLC lifted its stake in Adobe by 1.6% in the second quarter. EPG Wealth Management LLC now owns 1,054 shares of the software company’s stock valued at $617,000 after acquiring an additional 17 shares during the last quarter. Finally, Windward Capital Management Co. CA lifted its stake in Adobe by 1.2% in the second quarter. Windward Capital Management Co. CA now owns 1,477 shares of the software company’s stock valued at $865,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 81.67% of the company’s stock.

A number of analysts have commented on ADBE shares. Morgan Stanley increased their price target on shares of Adobe from $610.00 to $736.00 and gave the company an “overweight” rating in a research note on Wednesday, September 15th. They noted that the move was a valuation call. Cowen restated a “buy” rating and set a $700.00 target price on shares of Adobe in a research note on Wednesday, September 22nd. Royal Bank of Canada raised their target price on shares of Adobe from $575.00 to $650.00 and gave the stock an “outperform” rating in a research note on Friday, June 18th. JPMorgan Chase & Co. raised their target price on shares of Adobe from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 22nd. Finally, Piper Sandler raised their target price on shares of Adobe from $600.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 22nd. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of “Buy” and an average price target of $679.57.

ADBE stock traded down $17.09 during mid-day trading on Monday, hitting $605.62. The stock had a trading volume of 94,264 shares, compared to its average volume of 2,235,891. 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 52 week low of $420.78 and a 52 week high of $673.88. The firm has a market capitalization of $288.52 billion, a P/E ratio of 53.96, a P/E/G ratio of 3.42 and a beta of 0.97. The firm has a fifty day simple moving average of $639.91 and a 200 day simple moving average of $559.77.

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

In other news, CMO Ann Lewnes sold 1,164 shares of the business’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 transaction, the chief marketing officer now owns 25,672 shares in the company, valued at approximately $15,891,738.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gloria Chen sold 43 shares of the business’s stock in a transaction that occurred on Friday, July 23rd. The stock was sold at an average price of $625.76, for a total transaction of $26,907.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,737 shares of company stock worth $1,078,558. 0.23% of the stock is currently owned by corporate insiders.

Adobe 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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