Adobe Inc. (NASDAQ:ADBE) Shares Sold by Eads & Heald Wealth Management

Eads & Heald Wealth Management reduced its position in Adobe Inc. (NASDAQ:ADBE) by 2.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,731 shares of the software company’s stock after selling 96 shares during the period. Eads & Heald Wealth Management’s holdings in Adobe were worth $1,659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. Piscataqua Savings Bank lifted its stake in shares of Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Adobe during the third quarter valued at approximately $26,000. Groupama Asset Managment grew its stake in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after buying an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe in the 3rd quarter valued at $30,000. Finally, True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’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 sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,763 shares of company stock worth $893,665. 0.15% of the stock is owned by company insiders.

Adobe Stock Up 1.5 %

NASDAQ:ADBE opened at $436.36 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $475.06 and a 200-day moving average of $511.05. The firm has a market capitalization of $189.95 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.08 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its 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 firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company earned $3.52 earnings per share. Analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADBE. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a research report on Monday. Citigroup lowered their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Mizuho decreased their target price 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

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.