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

Farmers & Merchants Investments Inc. reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 41.4% in the second 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. Holdings held by Farmers & Merchants Investments Inc. in Adobe were worth $202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have 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 valued at 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 buying an additional 244,008 shares in the last quarter. Aveo Capital Partners LLC boosted 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 buying an additional 52 shares actions during that period. Gryphon Financial Partners LLC boosted 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 during the last quarter. Finally, Heritage Investors Management Corp acquired a new stake in shares of Adobe in the fourth quarter valued at $208,000. 81.79% of shares are owned by institutional investors and hedge funds.

Insider trading at Adobe

In related news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction dated 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 on the SEC’s website. In other news, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction that occurred on Monday, June 17th. The shares were 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 on the SEC’s website. Also, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction dated 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. In the last quarter, insiders sold 27,523 shares of company stock worth $14,994,277. Insiders own 0.15% of the company’s shares.

Changes in Analyst Ratings

Several equities research analysts have recently issued reports on the company. Citigroup decreased 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 upped their target price 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. The stock has a consensus rating of “Moderate Buy” and an average target price of $605.52, based on data from MarketBeat.com.

Get the latest report on Adobe

Adobe stock down 0.8%

Shares of 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. it 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 – Get Your Free Report ) last announced its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, topping 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 company’s revenue for the quarter was up 10.2% compared to the same quarter last year. In the same quarter last year, the company earned $3.04 EPS. As a group, analysts estimate that Adobe Inc. will post 14.69 earnings per share for the current year.

Adobe Company Profile

(Free report)

Adobe Inc, together with its subsidiaries, operates as a diversified worldwide software company. It operates through three segments: Digital Media, Digital Experience and Publishing & Advertising. The Digital Media segment provides products, services and solutions that enable individuals, teams and businesses to create, publish and promote content; and Document Cloud, a unified cloud-based document services platform.

Further reading

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