Roberts Wealth Advisors LLC Increases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Roberts Wealth Advisors LLC lifted its position in Adobe Inc. (NASDAQ:ADBE) by 3.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,543 shares of the software company’s stock after purchasing an additional 272 shares during the period. Adobe comprises approximately 1.2% of Roberts Wealth Advisors LLC’s holdings, making the stock its 27th biggest holding. Roberts Wealth Advisors LLC’s holdings in Adobe were worth $3,743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADBE. Scarborough Advisors LLC bought a new position in shares of Adobe in the fourth quarter worth approximately $62,000. Trust Co. of Toledo NA OH increased its position in shares of Adobe by 2.4% in the first quarter. Trust Co. of Toledo NA OH now owns 2,554 shares of the software company’s stock worth $1,289,000 after purchasing an additional 59 shares during the last quarter. CWM LLC increased its position in shares of Adobe by 24.6% in the first quarter. CWM LLC now owns 36,816 shares of the software company’s stock worth $18,578,000 after purchasing an additional 7,278 shares during the last quarter. Rise Advisors LLC increased its position in shares of Adobe by 153.3% in the first quarter. Rise Advisors LLC now owns 380 shares of the software company’s stock worth $192,000 after purchasing an additional 230 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Adobe by 0.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 73,565 shares of the software company’s stock worth $37,121,000 after purchasing an additional 459 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction dated Wednesday, September 25th. The stock was 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 directly owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Adobe news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 357,700 shares of the company’s stock, 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. In the last ninety days, insiders sold 32,078 shares of company stock worth $16,700,246. 0.15% of the stock is owned by corporate insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $508.03 on Wednesday. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day moving average price of $537.17 and a 200-day moving average price of $515.94. The company has a market capitalization of $225.26 billion, a PE ratio of 45.65, a PEG ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share 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 the consensus estimate of $5.37 billion. During the same period last year, the company earned $3.26 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, equities analysts expect that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a research report on Tuesday. Oppenheimer reiterated an “outperform” rating and set a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. UBS Group reduced their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Barclays increased their price target on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target 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.