Adobe Inc. (NASDAQ:ADBE) Holdings Trimmed by Barden Capital Management Inc.

Barden Capital Management Inc. trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 5.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,679 shares of the software company’s stock after selling 305 shares during the period. Adobe makes up approximately 3.1% of Barden Capital Management Inc.’s portfolio, making the stock its 7th largest holding. Barden Capital Management Inc.’s holdings in Adobe were worth $2,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in ADBE. NewSquare Capital LLC grew its holdings in shares of Adobe by 278.9% during the 1st quarter. NewSquare Capital LLC now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 53 shares during the period. Financial Freedom LLC acquired a new position in shares of Adobe in the 4th quarter valued at about $29,000. Financial Management Professionals Inc. boosted its holdings in shares of Adobe by 171.0% in the 1st quarter. Financial Management Professionals Inc. now owns 84 shares of the software company’s stock valued at $32,000 after buying an additional 53 shares during the period. Fiduciary Alliance LLC bought a new stake in Adobe in the 2nd quarter valued at about $32,000. Finally, Independence Bank of Kentucky lifted its position in Adobe by 209.1% in the 2nd quarter. Independence Bank of Kentucky now owns 68 shares of the software company’s stock valued at $33,000 after purchasing an additional 46 shares during the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In other Adobe news, CAO Mark S. Garfield sold 298 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $526.74, for a total value of $156,968.52. Following the completion of the transaction, the chief accounting officer now owns 4,055 shares in the company, valued at $2,135,930.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Mark S. Garfield sold 298 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $526.74, for a total transaction of $156,968.52. Following the completion of the sale, the chief accounting officer now owns 4,055 shares in the company, valued at $2,135,930.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Shantanu Narayen sold 35,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $478.03, for a total transaction of $16,731,050.00. Following the completion of the sale, the chief executive officer now owns 403,352 shares of the company’s stock, valued at approximately $192,814,356.56. The disclosure for this sale can be found here. Insiders have sold 43,089 shares of company stock valued at $20,720,115 over the last quarter. 0.24% of the stock is owned by insiders.

Adobe Trading Up 0.6 %

ADBE traded up $3.36 during trading hours on Monday, reaching $532.25. The company’s stock had a trading volume of 1,633,445 shares, compared to its average volume of 3,216,828. Adobe Inc. has a fifty-two week low of $274.73 and a fifty-two week high of $570.24. The stock has a market cap of $242.60 billion, a PE ratio of 48.02, a P/E/G ratio of 3.31 and a beta of 1.33. The business’s 50-day moving average is $530.08 and its 200-day moving average is $443.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.16.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 14th. The software company reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.98 by $0.11. Adobe had a return on equity of 38.66% and a net margin of 27.11%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the firm posted $2.63 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts predict that Adobe Inc. will post 12.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of several analyst reports. Evercore ISI lifted their target price on shares of Adobe from $590.00 to $605.00 and gave the stock an “outperform” rating in a research report on Friday. Atlantic Securities upped their target price on shares of Adobe from $420.00 to $580.00 in a research note on Friday, June 16th. BMO Capital Markets upped their target price on shares of Adobe from $600.00 to $640.00 and gave the company an “outperform” rating in a research note on Tuesday, September 12th. Citigroup boosted their price target on shares of Adobe from $544.00 to $570.00 and gave the company a “neutral” rating in a report on Wednesday, September 13th. Finally, TheStreet upgraded shares of Adobe from a “c+” rating to a “b-” rating in a research report on Wednesday, June 21st. Nine equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $586.38.

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.