Mosley Wealth Management Increases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Mosley Wealth Management boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 31.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 859 shares of the software company’s stock after purchasing an additional 205 shares during the quarter. Mosley Wealth Management’s holdings in Adobe were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vise Technologies Inc. raised its stake in Adobe by 267.3% in the fourth quarter. Vise Technologies Inc. now owns 7,769 shares of the software company’s stock valued at $4,635,000 after purchasing an additional 5,654 shares in the last quarter. Steph & Co. raised its stake in Adobe by 63.8% in the first quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after purchasing an additional 30 shares in the last quarter. International Assets Investment Management LLC raised its stake in Adobe by 16.2% in the first quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock valued at $1,435,000 after purchasing an additional 398 shares in the last quarter. Choreo LLC raised its stake in Adobe by 4.7% in the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock valued at $2,236,000 after purchasing an additional 197 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its position in Adobe by 14.7% during the fourth quarter. Eagle Asset Management Inc. now owns 24,400 shares of the software company’s stock valued at $14,557,000 after acquiring an additional 3,120 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded down $4.52 during trading on Friday, hitting $563.41. 2,096,790 shares of the company traded hands, compared to its average volume of 3,173,966. The stock has a market capitalization of $249.82 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 3.00 and a beta of 1.30. The business’s fifty day moving average is $553.72 and its 200-day moving average is $519.38. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted $3.04 earnings per share. As a group, equities analysts predict that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday. Citigroup reduced their price target on shares of Adobe from $554.00 to $529.00 and set a “neutral” rating on the stock in a research report on Monday, June 10th. KeyCorp increased their price target on shares of Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a research report on Friday, June 14th. Evercore ISI reiterated an “outperform” rating and set a $650.00 price target on shares of Adobe in a research report on Friday, June 7th. Finally, BMO Capital Markets increased their price target on shares of Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $605.52.

Insider Activity

In other news, EVP Scott Belsky sold 481 shares of the firm’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 $258,297.00. Following the transaction, the executive vice president now owns 19,658 shares in the company, valued at approximately $10,556,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the sale, the chief executive officer now directly owns 379,660 shares in the company, valued at approximately $206,576,802.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the completion of the transaction, the executive vice president now owns 19,658 shares in the company, valued at $10,556,346. The disclosure for this sale can be found here. Insiders sold 27,523 shares of company stock worth $14,994,277 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

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.