Adobe Inc (NASDAQ:ADBE) is Rosenblum Silverman Sutton S F Inc. CA’s 4th Largest Position

Rosenblum Silverman Sutton S F Inc. CA lessened its position in Adobe Inc (NASDAQ:ADBE) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,178 shares of the software company’s stock after selling 1,305 shares during the quarter. Adobe makes up about 4.9% of Rosenblum Silverman Sutton S F Inc. CA’s holdings, making the stock its 4th biggest holding. Rosenblum Silverman Sutton S F Inc. CA’s holdings in Adobe were worth $13,017,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Buffington Mohr McNeal acquired a new stake in Adobe in the 1st quarter worth $26,000. Marquette Asset Management LLC grew its position in Adobe by 114.3% in the 2nd quarter. Marquette Asset Management LLC now owns 90 shares of the software company’s stock worth $27,000 after purchasing an additional 48 shares during the last quarter. JNBA Financial Advisors grew its position in Adobe by 666.7% in the 2nd quarter. JNBA Financial Advisors now owns 92 shares of the software company’s stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Manchester Financial Inc. acquired a new stake in Adobe in the 2nd quarter worth $28,000. Finally, Ellis Investment Partners LLC acquired a new stake in Adobe in the 2nd quarter worth $30,000. Institutional investors and hedge funds own 86.32% of the company’s stock.

In other news, Director John E. Warnock sold 4,000 shares of Adobe stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $296.94, for a total transaction of $1,187,760.00. Following the completion of the sale, the director now owns 16,088 shares in the company, valued at approximately $4,777,170.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ann Lewnes sold 3,000 shares of Adobe stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $287.00, for a total transaction of $861,000.00. Following the sale, the executive vice president now owns 58,458 shares of the company’s stock, valued at approximately $16,777,446. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,627 shares of company stock valued at $8,638,724. 0.32% of the stock is owned by corporate insiders.

Shares of NASDAQ ADBE traded down $6.38 during trading on Monday, reaching $288.45. The company had a trading volume of 70,396 shares, compared to its average volume of 2,214,631. Adobe Inc has a 52 week low of $204.95 and a 52 week high of $313.11. The stock has a market cap of $144.55 billion, a PE ratio of 51.91, a PEG ratio of 2.70 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $301.74.

Adobe (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 18th. The software company reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.05. Adobe had a net margin of 26.25% and a return on equity of 29.96%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The company’s revenue was up 25.0% on a year-over-year basis. As a group, equities analysts expect that Adobe Inc will post 6.3 EPS for the current year.

Several analysts have issued reports on ADBE shares. BMO Capital Markets raised their price target on shares of Adobe from $300.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 19th. Morgan Stanley upgraded shares of Adobe from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $282.00 to $340.00 in a research report on Monday, April 29th. Wedbush lifted their target price on shares of Adobe from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, June 19th. Barclays lifted their target price on shares of Adobe from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, June 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $295.00 target price on shares of Adobe in a research report on Wednesday, June 19th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $301.69.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

Featured Article: What is a conference call?

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc (NASDAQ:ADBE).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit