Lloyd Advisory Services LLC. raised its position in Adobe Inc (NASDAQ:ADBE) by 256.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82 shares of the software company’s stock after buying an additional 59 shares during the quarter. Lloyd Advisory Services LLC.’s holdings in Adobe were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Change Path LLC raised its stake in shares of Adobe by 9.0% during the fourth quarter. Change Path LLC now owns 2,651 shares of the software company’s stock worth $874,000 after purchasing an additional 218 shares during the last quarter. Dai Ichi Life Insurance Company Ltd raised its stake in shares of Adobe by 5.8% during the fourth quarter. Dai Ichi Life Insurance Company Ltd now owns 49,392 shares of the software company’s stock worth $16,290,000 after purchasing an additional 2,714 shares during the last quarter. Blue Whale Capital LLP purchased a new stake in shares of Adobe during the fourth quarter worth approximately $19,589,000. Atlas Private Wealth Management purchased a new stake in shares of Adobe during the fourth quarter worth approximately $1,672,000. Finally, Bluefin Trading LLC purchased a new stake in shares of Adobe during the fourth quarter worth approximately $4,223,000. Institutional investors own 84.25% of the company’s stock.

ADBE has been the subject of several analyst reports. Cowen upped their price target on Adobe from $365.00 to $400.00 and gave the stock a “market perform” rating in a research note on Friday, June 12th. BidaskClub upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 17th. Robert W. Baird upped their price objective on Adobe from $345.00 to $460.00 and gave the stock an “outperform” rating in a report on Friday, June 12th. JPMorgan Chase & Co. upped their price objective on Adobe from $325.00 to $430.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Citigroup upped their price objective on Adobe from $293.00 to $413.00 and gave the stock a “neutral” rating in a report on Monday, June 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $407.43.

In related news, CMO Ann Lewnes sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $306.97, for a total value of $1,534,850.00. Following the sale, the chief marketing officer now owns 59,565 shares of the company’s stock, valued at approximately $18,284,668.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gloria Chen sold 498 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $313.88, for a total value of $156,312.24. Following the completion of the sale, the executive vice president now directly owns 9,480 shares in the company, valued at approximately $2,975,582.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,223 shares of company stock valued at $11,740,621. Insiders own 0.31% of the company’s stock.

Shares of ADBE traded down $4.95 during mid-day trading on Friday, hitting $432.00. The stock had a trading volume of 950,226 shares, compared to its average volume of 3,390,014. The company has a market cap of $210.52 billion, a PE ratio of 56.81, a PEG ratio of 3.35 and a beta of 0.92. The company’s fifty day simple moving average is $390.04 and its two-hundred day simple moving average is $349.74. The company has a quick ratio of 1.23, a current ratio of 1.29 and a debt-to-equity ratio of 0.38. Adobe Inc has a fifty-two week low of $255.13 and a fifty-two week high of $446.15.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 11th. The software company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.33 by $0.12. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.16 billion. Adobe had a return on equity of 35.53% and a net margin of 30.72%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. Equities analysts expect that Adobe Inc will post 8.05 earnings per share for the current year.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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