1 week Ago By ABMN Staff
Wellington Shields Capital Management LLC lessened its holdings in shares of Adobe Inc. ( NASDAQ:ADBE – Free Report ) by 96.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The institutional investor owned 133 shares of the software company’s stock after selling 4,128 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Adobe were worth $74,000 at the end of the most recent quarter. A number of other large investors also recently made changes to their positions in ADBE.
Tradewinds Capital Management LLC boosted its position in Adobe by 266.7% during the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter.
Salomon & Ludwin LLC raised its stake in shares of Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter.
Summit Securities Group LLC acquired a new stake in shares of Adobe during the 2nd quarter valued at about $33,000. Lynx Investment Advisory bought a new stake in shares of Adobe in the 2nd quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC acquired a new position in Adobe in the second quarter worth approximately $39,000.
Institutional investors and hedge funds own 81.79% of the company’s stock. Adobe Stock Down 0.
8 % ADBE opened at $563.41 on Friday. The company has a market capitalization of $249.
82 billion, a P/E ratio of 50.62, a P/E/G ratio of 3.00 and a beta of 1.
30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.
16 and a quick ratio of 1.16. Adobe Inc.
has a fifty-two week low of $433.97 and a fifty-two week high of $638.25.
The firm’s fifty day moving average price is $553.72 and its two-hundred day moving average price is $519.38.
Insiders Place Their Bets In other news, CAO Mark S. Garfield sold 264 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $525.
51, for a total value of $138,734.64. Following the completion of the sale, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.
40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink . In other Adobe news, CAO Mark S.
Garfield sold 97 shares of Adobe stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.
00. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink .
Also, CAO Mark S. Garfield sold 264 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $525.
51, for a total value of $138,734.64. Following the completion of the sale, the chief accounting officer now owns 2,740 shares of the company’s stock, valued at $1,439,897.
40. The disclosure for this sale can be found here . Over the last quarter, insiders have sold 27,523 shares of company stock worth $14,994,277.
Insiders own 0.15% of the company’s stock. Analysts Set New Price Targets ADBE has been the subject of a number of analyst reports.
Stifel Nicolaus lifted their target price on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday.
KeyCorp lifted their price objective on shares of Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a research note on Friday, June 14th.
Citigroup lowered their target price on shares of Adobe from $554.00 to $529.00 and set a “neutral” rating on the stock in a research report on Monday, June 10th.
Wells Fargo & Company boosted their price target on Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th.
Finally, Mizuho reissued a “buy” rating and set a $640.00 price objective (down previously from $680.00) on shares of Adobe in a report on Friday, June 7th.
Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $605.
52. View Our Latest Stock Report on Adobe About Adobe ( Free Report ) Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising.
The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform. Featured Articles 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 – Free Report ). 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 .
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