Sheaff Brock Investment Advisors LLC Sells 1,300 Shares of Adobe Inc (NASDAQ:ADBE)

Sheaff Brock Investment Advisors LLC decreased its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 35.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,365 shares of the software company’s stock after selling 1,300 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Adobe were worth $697,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADBE. Dimensional Fund Advisors LP boosted its stake in Adobe by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 878,281 shares of the software company’s stock worth $198,698,000 after purchasing an additional 13,421 shares in the last quarter. First Manhattan Co. lifted its stake in Adobe by 2.5% during the 1st quarter. First Manhattan Co. now owns 5,532 shares of the software company’s stock valued at $1,474,000 after acquiring an additional 135 shares during the period. Raymond James Trust N.A. lifted its stake in Adobe by 3.9% during the 1st quarter. Raymond James Trust N.A. now owns 6,469 shares of the software company’s stock valued at $1,724,000 after acquiring an additional 244 shares during the period. Quantitative Systematic Strategies LLC lifted its stake in Adobe by 148.7% during the 1st quarter. Quantitative Systematic Strategies LLC now owns 6,797 shares of the software company’s stock valued at $1,811,000 after acquiring an additional 4,064 shares during the period. Finally, Flagship Harbor Advisors LLC lifted its stake in Adobe by 7.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 5,152 shares of the software company’s stock valued at $1,372,000 after acquiring an additional 353 shares during the period. Hedge funds and other institutional investors own 86.37% of the company’s stock.

Shares of ADBE traded down $5.06 during trading hours on Wednesday, hitting $283.59. The stock had a trading volume of 607,958 shares, compared to its average volume of 2,716,969. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50-day moving average is $301.22. Adobe Inc has a fifty-two week low of $204.95 and a fifty-two week high of $313.11. The firm has a market cap of $143.12 billion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 2.68 and a beta of 1.08.

Adobe (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 18th. The software company reported $1.83 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the business posted $1.66 EPS. The business’s revenue was up 25.0% compared to the same quarter last year. As a group, research analysts expect that Adobe Inc will post 6.3 EPS for the current fiscal year.

In related news, EVP Ann Lewnes sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $307.13, for a total value of $921,390.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles M. Geschke sold 13,795 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $289.96, for a total transaction of $3,999,998.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,627 shares of company stock valued at $7,829,264. Company insiders own 0.32% of the company’s stock.

ADBE has been the subject of several research reports. Bank of America lifted their price objective on shares of Adobe from $312.00 to $323.00 and gave the company a “buy” rating in a research note on Wednesday, June 19th. Morgan Stanley upgraded shares of Adobe from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $282.00 to $340.00 in a research note on Monday, April 29th. Canaccord Genuity lifted their price objective on shares of Adobe from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 19th. BidaskClub cut shares of Adobe from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut shares of Adobe from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $301.69.

Adobe 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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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