Quent Capital LLC Has $1.03 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Quent Capital LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,981 shares of the software company’s stock after buying an additional 150 shares during the quarter. Quent Capital LLC’s holdings in Adobe were worth $1,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Tradewinds Capital Management LLC lifted its stake in shares of Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Salomon & Ludwin LLC boosted its holdings in Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after buying an additional 45 shares during the last quarter. Summit Securities Group LLC bought a new position in Adobe during the second quarter worth about $33,000. Steph & Co. grew its position in shares of Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after buying an additional 30 shares during the period. Finally, Lynx Investment Advisory acquired a new stake in shares of Adobe in the 2nd quarter valued at approximately $39,000. 81.79% of the stock is owned by institutional investors.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $560.23, for a total value of $857,151.90. Following the completion of the transaction, the executive vice president now owns 20,359 shares of the company’s stock, valued at $11,405,722.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction on Monday, July 15th. The shares were sold at an average price of $560.23, for a total transaction of $857,151.90. Following the transaction, the executive vice president now owns 20,359 shares in the company, valued at approximately $11,405,722.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,759 shares of company stock worth $17,642,653. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of ADBE traded up $3.42 during midday trading on Friday, hitting $507.22. The company’s stock had a trading volume of 1,949,994 shares, compared to its average volume of 3,224,393. The company has a quick ratio of 1.16, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The stock has a market capitalization of $224.90 billion, a price-to-earnings ratio of 45.57, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29. The company’s fifty day simple moving average is $541.74 and its two-hundred day simple moving average is $516.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $3.26 EPS. As a group, equities analysts expect that Adobe Inc. will post 14.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of a number of analyst reports. Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Citigroup lifted their target price on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $610.00 price target on shares of Adobe in a research note on Friday, September 13th. Evercore ISI reissued an “outperform” rating and set a $650.00 price objective on shares of Adobe in a research report on Friday, June 7th. Finally, Robert W. Baird boosted their price objective on shares of Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently 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.