Register Financial Advisors LLC Acquires Shares of 220 Adobe Inc. (NASDAQ:ADBE)

Register Financial Advisors LLC acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 220 shares of the software company’s stock, valued at approximately $111,000.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Bamco Inc. NY increased its holdings in shares of Adobe by 45.0% during the 3rd quarter. Bamco Inc. NY now owns 6,342 shares of the software company’s stock valued at $3,234,000 after purchasing an additional 1,968 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of Adobe during the 3rd quarter valued at approximately $617,000. CWA Asset Management Group LLC increased its holdings in shares of Adobe by 7.0% during the 3rd quarter. CWA Asset Management Group LLC now owns 1,181 shares of the software company’s stock valued at $602,000 after purchasing an additional 77 shares in the last quarter. Teza Capital Management LLC increased its holdings in shares of Adobe by 267.9% during the 3rd quarter. Teza Capital Management LLC now owns 5,537 shares of the software company’s stock valued at $2,823,000 after purchasing an additional 4,032 shares in the last quarter. Finally, Waverly Advisors LLC increased its holdings in shares of Adobe by 49.6% during the 3rd quarter. Waverly Advisors LLC now owns 1,146 shares of the software company’s stock valued at $584,000 after purchasing an additional 380 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADBE has been the subject of several recent analyst reports. KeyCorp boosted their price target on shares of Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a report on Friday, June 14th. BMO Capital Markets boosted their price target on shares of Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. JPMorgan Chase & Co. raised shares of Adobe from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $570.00 to $580.00 in a report on Friday, June 14th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, June 14th. Finally, Citigroup cut their price target on shares of Adobe from $554.00 to $529.00 and set a “neutral” rating for the company in a report on Monday, June 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.67.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $544.11, for a total value of $13,602,750.00. Following the completion of the sale, the chief executive officer now owns 379,660 shares in the company, valued at approximately $206,576,802.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the completion of the sale, the chief executive officer now owns 379,660 shares in the company, valued at approximately $206,576,802.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $468.41, for a total value of $45,435.77. Following the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at approximately $1,933,596.48. The disclosure for this sale can be found here. Insiders sold 28,270 shares of company stock worth $15,165,916 in the last 90 days. 0.15% of the stock is owned by company insiders.

Adobe Trading Up 1.6 %

ADBE traded up $8.78 during midday trading on Friday, hitting $555.54. The company’s stock had a trading volume of 5,077,912 shares, compared to its average volume of 3,590,147. The company has a current ratio of 1.16, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The firm has a market cap of $248.88 billion, a P/E ratio of 49.91, a PEG ratio of 2.76 and a beta of 1.27. The firm has a 50-day moving average price of $485.04 and a two-hundred day moving average price of $535.58. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.39 by $0.09. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.04 EPS. On average, research analysts anticipate that Adobe Inc. will post 14.69 earnings per share for the current year.

Adobe declared that its board has authorized a share buyback program on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Adobe 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.