FinTrust Capital Advisors LLC lifted its holdings in Adobe Inc (NASDAQ:ADBE) by 115.2% in the second quarter, Holdings Channel reports. The firm owned 1,106 shares of the software company’s stock after buying an additional 592 shares during the period. FinTrust Capital Advisors LLC’s holdings in Adobe were worth $481,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Evolution Wealth Advisors LLC acquired a new stake in shares of Adobe in the 2nd quarter worth $30,000. Harvest Group Wealth Management LLC acquired a new stake in Adobe during the 2nd quarter worth about $30,000. Cedar Mountain Advisors LLC lifted its position in Adobe by 81.0% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 76 shares of the software company’s stock worth $33,000 after acquiring an additional 34 shares during the period. Lloyd Advisory Services LLC. lifted its position in Adobe by 256.5% during the 1st quarter. Lloyd Advisory Services LLC. now owns 82 shares of the software company’s stock worth $26,000 after acquiring an additional 59 shares during the period. Finally, Rockbridge Investment Management LCC acquired a new stake in Adobe during the 2nd quarter worth about $36,000. 84.03% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on ADBE shares. Jefferies Financial Group lifted their price target on Adobe from $570.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research cut Adobe from a “hold” rating to a “sell” rating and set a $421.00 price target for the company. in a research report on Tuesday, June 16th. Robert W. Baird lifted their price objective on Adobe from $345.00 to $460.00 and gave the company an “outperform” rating in a research note on Friday, June 12th. Wells Fargo & Company lifted their price objective on Adobe from $375.00 to $500.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Bank of America lifted their price objective on Adobe from $440.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $486.42.
NASDAQ:ADBE traded down $21.67 during trading hours on Wednesday, hitting $476.00. 8,419,304 shares of the stock were exchanged, compared to its average volume of 3,275,031. Adobe Inc has a 52-week low of $255.13 and a 52-week high of $536.88. The firm’s fifty day moving average price is $470.05 and its 200 day moving average price is $395.83. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.38. The company has a market cap of $228.32 billion, a P/E ratio of 63.74, a P/E/G ratio of 3.77 and a beta of 0.94.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 15th. The software company reported $2.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.16. Adobe had a return on equity of 35.53% and a net margin of 30.72%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business earned $2.05 EPS. Adobe’s quarterly revenue was up 14.0% on a year-over-year basis. Equities analysts expect that Adobe Inc will post 8.05 EPS for the current fiscal year.
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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