Retireful LLC Takes Position in Adobe Inc. (NASDAQ:ADBE)

Retireful LLC bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,068 shares of the software company's stock, valued at approximately $553,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Adobe by 28.0% during the 3rd 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 during the last quarter. Hemenway Trust Co LLC lifted its stake in shares of Adobe by 53.1% in the 3rd quarter. Hemenway Trust Co LLC now owns 10,202 shares of the software company's stock valued at $5,282,000 after purchasing an additional 3,539 shares in the last quarter. Crestwood Advisors Group LLC increased its position in Adobe by 1.0% during the 3rd quarter. Crestwood Advisors Group LLC now owns 149,968 shares of the software company's stock worth $77,650,000 after purchasing an additional 1,464 shares in the last quarter. Anchor Investment Management LLC lifted its position in Adobe by 9.8% during the second quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company's stock valued at $8,892,000 after buying an additional 1,430 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new stake in Adobe during the second quarter worth approximately $1,318,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 6.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 481 shares of the firm's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock worth $17,736,369 over the last three months. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Performance

Shares of ADBE traded down $0.11 during trading hours on Wednesday, reaching $499.50. 1,873,310 shares of the company traded hands, compared to its average volume of 3,156,954. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The stock has a market cap of $219.88 billion, a P/E ratio of 42.20, a price-to-earnings-growth ratio of 2.59 and a beta of 1.30. The stock's fifty day moving average is $506.89 and its 200 day moving average is $518.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same period last year, the business earned $3.26 earnings per share. The business's revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ADBE shares. Argus upgraded Adobe to a "strong-buy" rating in a report on Monday, September 16th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a report on Friday, September 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $610.00 price objective on shares of Adobe in a research report on Tuesday, October 15th. Sanford C. Bernstein decreased their target price on shares of Adobe from $660.00 to $644.00 and set an "outperform" rating for the company in a research note on Friday, September 13th. Finally, Citigroup upped their target price on Adobe from $550.00 to $621.00 and gave the company a "neutral" rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $606.40.

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.