Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Motiv8 Investments LLC

Motiv8 Investments LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 47.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,469 shares of the software company’s stock after buying an additional 471 shares during the quarter. Motiv8 Investments LLC’s holdings in Adobe were worth $816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tradewinds Capital Management LLC lifted its stake in Adobe by 266.7% during the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after buying an additional 45 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Adobe during the second quarter worth $33,000. Steph & Co. lifted its holdings in shares of Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares during the period. Finally, Lynx Investment Advisory acquired a new stake in shares of Adobe during the second quarter worth $39,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on ADBE. Oppenheimer increased their price target on Adobe from $580.00 to $625.00 and gave the stock an “outperform” rating in a report on Wednesday. KeyCorp increased their price target on Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a report on Friday, June 14th. Barclays increased their price target on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday. Melius Research reaffirmed a “hold” rating and set a $510.00 price target on shares of Adobe in a report on Monday, June 10th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $650.00 price objective on shares of Adobe in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $605.52.

Adobe Price Performance

Adobe stock traded down $4.52 during midday trading on Friday, reaching $563.41. 2,096,790 shares of the company were exchanged, compared to its average volume of 3,173,966. The company has a market capitalization of $249.82 billion, a price-to-earnings ratio of 50.62, a P/E/G ratio of 3.00 and a beta of 1.30. The firm’s 50-day simple moving average is $553.72 and its 200-day simple moving average is $519.38. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16.

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

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 264 shares of Adobe 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 transaction, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 value of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the completion of the transaction, the chief accounting officer now directly owns 2,740 shares in the company, valued at $1,439,897.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,523 shares of company stock valued at $14,994,277. Insiders own 0.15% of the company’s stock.

About Adobe

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.