B.O.S.S. Retirement Advisors LLC Sells 317 Shares of Adobe Inc. (NASDAQ:ADBE)

B.O.S.S. Retirement Advisors LLC cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 38.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 513 shares of the software company’s stock after selling 317 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in Adobe were worth $266,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Affirmative Financial Network lifted its position in shares of Adobe by 2.9% during the 1st quarter. First Affirmative Financial Network now owns 1,766 shares of the software company’s stock worth $891,000 after buying an additional 50 shares during the period. CHURCHILL MANAGEMENT Corp lifted its holdings in shares of Adobe by 2.6% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 24,737 shares of the software company’s stock valued at $12,482,000 after acquiring an additional 619 shares during the period. Guinness Asset Management LTD boosted its stake in shares of Adobe by 9.2% in the 1st quarter. Guinness Asset Management LTD now owns 49,060 shares of the software company’s stock valued at $24,756,000 after purchasing an additional 4,136 shares in the last quarter. Pflug Koory LLC grew its holdings in shares of Adobe by 9.1% in the 1st quarter. Pflug Koory LLC now owns 408 shares of the software company’s stock worth $206,000 after purchasing an additional 34 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Adobe by 0.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 39,491 shares of the software company’s stock worth $19,927,000 after purchasing an additional 115 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley restated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a research report on Friday, September 13th. Bank of America reissued a “buy” rating and issued a $640.00 target price on shares of Adobe in a report on Friday, September 13th. Barclays raised their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Oppenheimer reissued an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $496.83 on Friday. The firm’s 50 day simple moving average is $536.28 and its 200 day simple moving average is $515.72. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The company has a market capitalization of $220.29 billion, a price-to-earnings ratio of 44.64, a P/E/G ratio of 2.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the business posted $3.26 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Adobe Inc. will post 14.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Adobe news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,608 shares of company stock worth $17,486,391 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Adobe Company Profile

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.