Ewa LLC Purchases Shares of 517 Adobe Inc. (NASDAQ:ADBE)

Ewa LLC acquired a new position in Adobe Inc. (NASDAQ:ADBE) during the second quarter, HoldingsChannel.com reports. The fund acquired 517 shares of the software company’s stock, valued at approximately $253,000.

Several other large investors have also recently modified their holdings of the company. Hartford Financial Management Inc. increased its position in shares of Adobe by 0.4% during the second quarter. Hartford Financial Management Inc. now owns 4,471 shares of the software company’s stock worth $2,186,000 after purchasing an additional 20 shares in the last quarter. Capital Planning Advisors LLC increased its position in Adobe by 0.3% during the 2nd quarter. Capital Planning Advisors LLC now owns 7,954 shares of the software company’s stock valued at $3,889,000 after buying an additional 20 shares in the last quarter. Weil Company Inc. raised its stake in Adobe by 2.4% in the second quarter. Weil Company Inc. now owns 842 shares of the software company’s stock valued at $412,000 after buying an additional 20 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in Adobe by 25.0% in the second quarter. Financial Management Professionals Inc. now owns 105 shares of the software company’s stock worth $51,000 after acquiring an additional 21 shares in the last quarter. Finally, Sage Capital Advisors llc grew its stake in shares of Adobe by 0.4% during the second quarter. Sage Capital Advisors llc now owns 5,599 shares of the software company’s stock worth $2,738,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 80.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ADBE shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $615.00 target price on shares of Adobe in a research note on Wednesday, October 11th. Oppenheimer raised shares of Adobe from a “market perform” rating to an “outperform” rating and set a $660.00 price objective on the stock in a report on Thursday, October 26th. Evercore ISI raised their target price on Adobe from $590.00 to $605.00 and gave the stock an “outperform” rating in a research note on Friday, September 15th. Robert W. Baird boosted their price target on Adobe from $500.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, September 15th. Finally, The Goldman Sachs Group raised their price objective on Adobe from $550.00 to $625.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $603.22.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 1,991 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $544.39, for a total transaction of $1,083,880.49. Following the sale, the executive vice president now directly owns 21,467 shares in the company, valued at approximately $11,686,420.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Mark S. Garfield sold 264 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $524.70, for a total value of $138,520.80. Following the sale, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at $2,127,658.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 1,991 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $544.39, for a total transaction of $1,083,880.49. Following the transaction, the executive vice president now owns 21,467 shares of the company’s stock, valued at approximately $11,686,420.13. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,467 shares of company stock valued at $1,337,400. 0.24% of the stock is currently owned by company insiders.

Adobe Trading Up 1.0 %

Shares of NASDAQ ADBE traded up $6.16 during midday trading on Monday, reaching $608.82. 750,389 shares of the stock were exchanged, compared to its average volume of 3,094,469. Adobe Inc. has a twelve month low of $318.60 and a twelve month high of $613.71. The stock has a market capitalization of $277.20 billion, a P/E ratio of 54.24, a PEG ratio of 3.43 and a beta of 1.33. The company has a 50 day simple moving average of $544.87 and a 200 day simple moving average of $500.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.25 and a current ratio of 1.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 14th. The software company reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.98 by $0.11. Adobe had a net margin of 27.11% and a return on equity of 37.73%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the firm earned $2.63 EPS. The business’s revenue was up 10.3% on a year-over-year basis. As a group, equities analysts expect that Adobe Inc. will post 12.81 earnings per share for the current year.

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.