Adobe Inc. (NASDAQ:ADBE) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 41.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 364 shares of the software company’s stock after selling 257 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Adobe were worth $202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of Adobe in the fourth quarter worth approximately $1,468,000. Concentrum Wealth Management grew its position in Adobe by 11.3% during the 4th quarter. Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock worth $1,435,194,000 after purchasing an additional 244,008 shares in the last quarter. Aveo Capital Partners LLC raised its stake in Adobe by 5.9% during the 4th quarter. Aveo Capital Partners LLC now owns 932 shares of the software company’s stock valued at $556,000 after purchasing an additional 52 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of Adobe by 22.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,561 shares of the software company’s stock valued at $2,066,000 after purchasing an additional 658 shares in the last quarter. Finally, Heritage Investors Management Corp acquired a new stake in shares of Adobe in the fourth quarter worth $208,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In related news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,501,989. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the sale, the chief accounting officer now owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,501,989. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,523 shares of company stock worth $14,994,277. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup reduced their price objective on Adobe from $554.00 to $529.00 and set a “neutral” rating for the company in a research note on Monday, June 10th. Robert W. Baird increased their price target on shares of Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. StockNews.com downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Evercore ISI reiterated an “outperform” rating and issued a $650.00 price objective on shares of Adobe in a research note on Friday, June 7th. Finally, BMO Capital Markets lifted their target price on shares of Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $605.52.

Adobe Stock Down 0.8 %

Adobe stock opened at $563.41 on Friday. The firm has a market cap 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 has a fifty day moving average price of $553.72 and a two-hundred day moving average price of $519.38. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.39 by $0.09. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.04 EPS. As a group, analysts forecast that Adobe Inc. will post 14.69 earnings per share for the current year.

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.