1834 Investment Advisors Co. Buys 40 Shares of Adobe Inc. (NASDAQ:ADBE)

1834 Investment Advisors Co. lifted its position in Adobe Inc. (NASDAQ:ADBE) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,997 shares of the software company’s stock after acquiring an additional 40 shares during the period. 1834 Investment Advisors Co.’s holdings in Adobe were worth $1,034,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ADBE. Catalina Capital Group LLC lifted its stake in Adobe by 15.8% in the third quarter. Catalina Capital Group LLC now owns 1,389 shares of the software company’s stock valued at $719,000 after acquiring an additional 190 shares during the last quarter. Beacon Financial Advisory LLC raised its holdings in shares of Adobe by 4.8% in the 3rd quarter. Beacon Financial Advisory LLC now owns 498 shares of the software company’s stock valued at $258,000 after purchasing an additional 23 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in Adobe by 11.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,000 shares of the software company’s stock valued at $1,036,000 after purchasing an additional 198 shares during the last quarter. HF Advisory Group LLC grew its holdings in Adobe by 2.8% during the third quarter. HF Advisory Group LLC now owns 2,796 shares of the software company’s stock worth $1,448,000 after purchasing an additional 76 shares during the period. Finally, Falcon Wealth Planning increased its position in Adobe by 3.6% during the third quarter. Falcon Wealth Planning now owns 1,214 shares of the software company’s stock worth $629,000 after buying an additional 42 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ADBE has been the subject of a number of recent analyst reports. Argus raised Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Barclays raised their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Stifel Nicolaus increased their price objective on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Sanford C. Bernstein reduced their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Adobe Stock Up 1.1 %

Shares of ADBE opened at $486.42 on Wednesday. The firm has a 50 day simple moving average of $518.98 and a two-hundred day simple moving average of $516.41. The company has a market cap of $214.12 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.49 and a beta of 1.30. Adobe Inc. has a one year low of $433.97 and a one 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.

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