TFG Advisers LLC Has $297,000 Stake in Adobe Inc. (NASDAQ:ADBE)

TFG Advisers LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 14.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 573 shares of the software company’s stock after purchasing an additional 73 shares during the quarter. TFG Advisers LLC’s holdings in Adobe were worth $297,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Sound Income Strategies LLC increased its holdings in shares of Adobe by 71.8% in the 1st quarter. Sound Income Strategies LLC now owns 390 shares of the software company’s stock valued at $197,000 after purchasing an additional 163 shares during the period. Atlas Capital Advisors LLC increased its stake in Adobe by 10.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 466 shares of the software company’s stock valued at $235,000 after buying an additional 44 shares during the period. Key Client Fiduciary Advisors LLC lifted its position in Adobe by 4.4% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 997 shares of the software company’s stock worth $503,000 after buying an additional 42 shares in the last quarter. Aspiriant LLC boosted its stake in shares of Adobe by 7.1% during the 1st quarter. Aspiriant LLC now owns 2,711 shares of the software company’s stock valued at $1,368,000 after buying an additional 179 shares during the period. Finally, RFG Holdings Inc. purchased a new position in shares of Adobe during the 1st quarter valued at $268,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE traded down $2.12 during trading hours on Wednesday, reaching $490.99. 187,470 shares of the company traded hands, compared to its average volume of 3,190,515. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $533.94 and its 200 day moving average is $516.05. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The stock has a market cap of $217.70 billion, a P/E ratio of 44.30, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the firm posted $3.26 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the sale, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Adobe news, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the sale, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the company’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 value of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares in the company, 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. Over the last ninety days, insiders sold 33,608 shares of company stock worth $17,486,391. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $660.00 target price on shares of Adobe in a research note on Friday, September 13th. UBS Group lowered their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Argus raised shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Stifel Nicolaus raised their price target on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.