Oliver Lagore Vanvalin Investment Group Raises Position in Adobe Inc. (NASDAQ:ADBE)

Oliver Lagore Vanvalin Investment Group lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 41.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,866 shares of the software company’s stock after purchasing an additional 1,438 shares during the period. Adobe comprises approximately 0.8% of Oliver Lagore Vanvalin Investment Group’s portfolio, making the stock its 24th largest position. Oliver Lagore Vanvalin Investment Group’s holdings in Adobe were worth $2,703,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ADBE. Tradewinds Capital Management LLC raised its stake in Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Salomon & Ludwin LLC raised its stake in Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new position in Adobe in the second quarter valued at $33,000. Lynx Investment Advisory acquired a new position in Adobe in the second quarter valued at $39,000. Finally, Hobbs Group Advisors LLC acquired a new position in Adobe in the second quarter valued at $39,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were 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. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were 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. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. The disclosure for this sale can be found here. Insiders sold a total of 33,759 shares of company stock valued at $17,642,653 over the last 90 days. Insiders own 0.15% of the company’s stock.

Adobe Stock Up 0.0 %

Shares of NASDAQ ADBE opened at $515.48 on Friday. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a market capitalization of $228.56 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.16. The firm’s 50-day moving average is $545.13 and its two-hundred day moving average is $517.65.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.26 earnings per share. Equities analysts anticipate that Adobe Inc. will post 14.79 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the topic of a number of recent research reports. Mizuho restated a “buy” rating and issued a $640.00 price objective (down from $680.00) on shares of Adobe in a research note on Friday, June 7th. Stifel Nicolaus lifted their price objective on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Sanford C. Bernstein dropped their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. 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 report on Friday, June 14th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $635.00 target price on shares of Adobe in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe 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.