Ycg LLC Sells 132 Shares of Adobe Inc. (NASDAQ:ADBE)

Ycg LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,776 shares of the software company’s stock after selling 132 shares during the quarter. Adobe comprises 2.1% of Ycg LLC’s holdings, making the stock its 20th largest holding. Ycg LLC’s holdings in Adobe were worth $25,430,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Sound View Wealth Advisors Group LLC lifted its position in Adobe by 2.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 696 shares of the software company’s stock valued at $415,000 after acquiring an additional 17 shares in the last quarter. Wade G W & Inc. grew its holdings in Adobe by 0.5% during the fourth quarter. Wade G W & Inc. now owns 3,712 shares of the software company’s stock worth $2,215,000 after buying an additional 18 shares in the last quarter. Invst LLC raised its position in Adobe by 2.1% in the 4th quarter. Invst LLC now owns 934 shares of the software company’s stock valued at $567,000 after buying an additional 19 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in Adobe by 3.9% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after acquiring an additional 19 shares in the last quarter. Finally, HTLF Bank boosted its holdings in Adobe by 3.3% during the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after acquiring an additional 19 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

NASDAQ ADBE traded down $4.52 during trading on Friday, reaching $563.41. The company’s stock had a trading volume of 2,096,790 shares, compared to its average volume of 3,173,966. The stock has a market capitalization of $249.82 billion, a PE ratio of 50.62, a P/E/G ratio of 3.00 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a fifty day moving average of $553.72 and a 200 day moving average of $519.22. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. Adobe’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share. Analysts expect that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Insider Activity at Adobe

In other Adobe news, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the sale, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Adobe news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 20,359 shares of the company’s stock, valued at $11,405,722.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total value of $85,254.60. Following the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,579,186.20. The disclosure for this sale can be found here. Insiders have sold a total of 27,523 shares of company stock valued at $14,994,277 over the last 90 days. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ADBE shares. Melius lowered shares of Adobe from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Monday, June 10th. KeyCorp upped their target price on Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a report on Friday, June 14th. Barclays lifted their price target on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets lifted their target price on Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $605.52.

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.