Bogart Wealth LLC Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Bogart Wealth LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,938 shares of the software company’s stock after buying an additional 41 shares during the period. Bogart Wealth LLC’s holdings in Adobe were worth $6,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. GAMMA Investing LLC lifted its stake in shares of Adobe by 28.0% in the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after buying an additional 1,412 shares in the last quarter. Anchor Investment Management LLC lifted its position in Adobe by 9.8% in the 2nd quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock valued at $8,892,000 after acquiring an additional 1,430 shares in the last quarter. Choreo LLC boosted its stake in Adobe by 4.7% during the 1st quarter. Choreo LLC now owns 4,431 shares of the software company’s stock valued at $2,236,000 after purchasing an additional 197 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Adobe in the 2nd quarter worth $1,318,000. Finally, Daymark Wealth Partners LLC raised its stake in shares of Adobe by 89.8% in the second quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock worth $5,065,000 after purchasing an additional 4,315 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the sale, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the sale, the executive vice president now owns 18,831 shares in the company, valued at approximately $9,675,744.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the stock in a transaction on Tuesday, September 17th. The shares were 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 of the company’s stock, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,030 shares of company stock valued at $17,176,005 in the last 90 days. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE traded down $2.83 during trading hours on Thursday, reaching $482.20. The company’s stock had a trading volume of 965,377 shares, compared to its average volume of 3,188,615. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $213.81 billion, a price-to-earnings ratio of 43.40, a PEG ratio of 2.55 and a beta of 1.29. The firm’s 50-day moving average price is $532.85 and its 200-day moving average price is $515.83.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 earnings per share. On average, equities research analysts predict that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America reiterated a “buy” rating and issued a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Stifel Nicolaus raised their target price on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Barclays boosted their target price on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Argus upgraded Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average price target of $606.40.

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.