Seed Wealth Management Inc. Acquires 26 Shares of Adobe Inc. (NASDAQ:ADBE)

Seed Wealth Management Inc. grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 738 shares of the software company’s stock after buying an additional 26 shares during the quarter. Seed Wealth Management Inc.’s holdings in Adobe were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Commonwealth Financial Services LLC raised its holdings in Adobe by 3.7% during the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after buying an additional 19 shares during the period. Onyx Bridge Wealth Group LLC increased its position in Adobe by 4.0% during the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock valued at $272,000 after acquiring an additional 20 shares during the last quarter. Connable Office Inc. raised its stake in shares of Adobe by 0.5% in the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after acquiring an additional 20 shares during the period. 1ST Source Bank lifted its holdings in shares of Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after acquiring an additional 20 shares during the last quarter. Finally, Sfmg LLC boosted its stake in shares of Adobe by 3.1% during the 2nd quarter. Sfmg LLC now owns 708 shares of the software company’s stock worth $393,000 after purchasing an additional 21 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of several analyst reports. Mizuho decreased their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Argus upgraded Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company lowered their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Citigroup lowered their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $575.85.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is owned by insiders.

Adobe Stock Up 0.6 %

Adobe stock opened at $408.50 on Tuesday. The business’s 50-day simple moving average is $482.55 and its two-hundred day simple moving average is $516.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $179.82 billion, a PE ratio of 32.94, a PEG ratio of 2.51 and a beta of 1.31. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.52 EPS. Equities analysts anticipate that Adobe Inc. will post 16.73 EPS for the current year.

Adobe 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.