Catalytic Wealth RIA LLC Has $319,000 Position in Adobe Inc. (NASDAQ:ADBE)

Catalytic Wealth RIA LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 49.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 616 shares of the software company’s stock after selling 600 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Adobe were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Adobe by 28.0% during the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after purchasing an additional 1,412 shares during the period. Crestwood Advisors Group LLC increased its stake in Adobe by 1.0% during the 3rd quarter. Crestwood Advisors Group LLC now owns 149,968 shares of the software company’s stock valued at $77,650,000 after purchasing an additional 1,464 shares in the last quarter. Anchor Investment Management LLC lifted its stake in shares of Adobe by 9.8% in the second quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock valued at $8,892,000 after buying an additional 1,430 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of Adobe during the second quarter valued at about $1,318,000. Finally, Daymark Wealth Partners LLC increased its position in shares of Adobe by 89.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock worth $5,065,000 after acquiring an additional 4,315 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ADBE. Morgan Stanley reissued an “overweight” rating and set a $660.00 price objective on shares of Adobe in a report on Friday, September 13th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Stifel Nicolaus upped their price objective on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Barclays lifted their target price on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, Bank of America reiterated a “buy” rating and issued a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock worth $17,736,369 over the last quarter. 0.15% of the stock is currently owned by insiders.

Adobe Stock Performance

Shares of ADBE opened at $504.48 on Tuesday. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market cap of $222.07 billion, a P/E ratio of 42.61, a P/E/G ratio of 2.55 and a beta of 1.30. The business’s 50 day moving average price is $514.90 and its 200-day moving average price is $517.00.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.26 EPS. Equities research analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Adobe Company Profile

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.