531 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by RFG Holdings Inc.

RFG Holdings Inc. purchased a new stake in Adobe Inc. (NASDAQ:ADBE) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 531 shares of the software company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Wetzel Investment Advisors Inc. bought a new stake in shares of Adobe in the 4th quarter worth about $35,000. Steph & Co. grew its holdings in shares of Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares during the last quarter. Vima LLC bought a new stake in shares of Adobe in the 4th quarter worth about $55,000. Pineridge Advisors LLC bought a new stake in shares of Adobe in the 4th quarter worth about $60,000. Finally, Scarborough Advisors LLC acquired a new position in Adobe during the 4th quarter worth about $61,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 2,713 shares of Adobe stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total value of $1,286,775.90. Following the transaction, the executive vice president now directly owns 21,114 shares of the company’s stock, valued at $10,014,370.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Adobe news, EVP Scott Belsky sold 2,713 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total value of $1,286,775.90. Following the transaction, the executive vice president now directly owns 21,114 shares of the company’s stock, valued at $10,014,370.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at $1,940,160. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,270 shares of company stock worth $1,563,166. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADBE. TheStreet downgraded shares of Adobe from a “b-” rating to a “c+” rating in a research report on Tuesday, March 19th. HSBC reduced their price target on shares of Adobe from $557.00 to $511.00 and set a “hold” rating on the stock in a research report on Friday, March 15th. Stifel Nicolaus reduced their price target on shares of Adobe from $625.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, June 14th. Finally, KeyCorp upped their target price 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $607.67.

Adobe Stock Up 0.3 %

ADBE opened at $528.66 on Thursday. Adobe Inc. 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 quick ratio of 1.05 and a current ratio of 1.16. The company has a market capitalization of $236.84 billion, a P/E ratio of 47.50, a P/E/G ratio of 2.75 and a beta of 1.27. The stock has a fifty day moving average of $480.67 and a 200-day moving average of $536.04.

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

Adobe announced that its Board of Directors has initiated a stock buyback program on Thursday, March 14th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.