Stratos Wealth Advisors LLC Raises Holdings in Adobe Inc. (NASDAQ:ADBE)

Stratos Wealth Advisors LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 20,665 shares of the software company’s stock after purchasing an additional 133 shares during the period. Stratos Wealth Advisors LLC’s holdings in Adobe were worth $9,189,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in Adobe during the third quarter worth $26,000. Piscataqua Savings Bank boosted its stake in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Adobe during the third quarter worth $30,000. True Wealth Design LLC boosted its stake in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the last quarter. Finally, Briaud Financial Planning Inc acquired a new position in Adobe during the third quarter worth $36,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 in the last three months. 0.15% of the stock is currently owned by company insiders.

Adobe Trading Up 0.4 %

ADBE opened at $440.23 on Wednesday. Adobe Inc. has a one year low of $403.75 and a one year high of $634.59. The company has a market cap of $191.63 billion, a P/E ratio of 35.50, a PEG ratio of 2.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50-day simple moving average is $460.36 and its 200-day simple moving average is $502.16.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the business posted $3.52 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price target on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Sanford C. Bernstein decreased their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Citigroup decreased their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.