ERTS Wealth Advisors LLC raised its position in Adobe Inc (NASDAQ:ADBE) by 80.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 705 shares of the software company’s stock after purchasing an additional 315 shares during the period. ERTS Wealth Advisors LLC’s holdings in Adobe were worth $208,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ADBE. Marquette Asset Management LLC raised its holdings in shares of Adobe by 114.3% during the 2nd quarter. Marquette Asset Management LLC now owns 90 shares of the software company’s stock worth $27,000 after acquiring an additional 48 shares during the period. JNBA Financial Advisors increased its position in shares of Adobe by 666.7% during the 2nd quarter. JNBA Financial Advisors now owns 92 shares of the software company’s stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Manchester Financial Inc. acquired a new stake in shares of Adobe during the 2nd quarter worth about $28,000. Ellis Investment Partners LLC acquired a new stake in shares of Adobe during the 2nd quarter worth about $30,000. Finally, Resources Investment Advisors LLC. increased its position in shares of Adobe by 94.3% during the 2nd quarter. Resources Investment Advisors LLC. now owns 103 shares of the software company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 86.53% of the company’s stock.

Shares of ADBE traded up $1.34 during midday trading on Friday, hitting $279.36. The company had a trading volume of 311,939 shares, compared to its average volume of 2,153,849. The company’s 50-day simple moving average is $290.27 and its 200-day simple moving average is $281.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $134.05 billion, a P/E ratio of 50.34, a P/E/G ratio of 2.51 and a beta of 1.11. Adobe Inc has a 1 year low of $204.95 and a 1 year high of $313.11.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, June 18th. The software company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.05. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Adobe had a return on equity of 29.96% and a net margin of 26.25%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 EPS. Equities analysts predict that Adobe Inc will post 6.3 earnings per share for the current fiscal year.

A number of analysts recently issued reports on ADBE shares. Credit Suisse Group raised their price objective on Adobe from $300.00 to $325.00 and gave the stock a “positive” rating in a research report on Wednesday, June 19th. Bank of America raised their price objective on Adobe from $312.00 to $323.00 and gave the stock a “buy” rating in a research report on Wednesday, June 19th. KeyCorp reissued a “hold” rating on shares of Adobe in a research report on Wednesday, June 19th. Wells Fargo & Co reissued a “hold” rating and set a $275.00 price objective (up from $250.00) on shares of Adobe in a research report on Wednesday, June 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $295.00 price objective on shares of Adobe in a research report on Wednesday, June 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $301.69.

In other news, EVP Ann Lewnes sold 3,000 shares of Adobe stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $287.00, for a total value of $861,000.00. Following the completion of the transaction, the executive vice president now owns 58,458 shares in the company, valued at approximately $16,777,446. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Warnock sold 4,000 shares of Adobe stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $296.94, for a total value of $1,187,760.00. Following the completion of the transaction, the director now owns 16,088 shares of the company’s stock, valued at approximately $4,777,170.72. The disclosure for this sale can be found here. Insiders sold a total of 29,627 shares of company stock valued at $8,697,224 in the last quarter. Company insiders own 0.32% of the company’s stock.

About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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