Adobe Inc. (NASDAQ:ADBE) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 29.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,807 shares of the software company’s stock after selling 766 shares during the period. Venturi Wealth Management LLC’s holdings in Adobe were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ADBE. Legacy Investment Solutions LLC acquired a new stake in Adobe in the third quarter valued at approximately $26,000. Groupama Asset Managment grew its holdings in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the third quarter valued at approximately $30,000. True Wealth Design LLC grew its holdings in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in Adobe in the fourth quarter valued at approximately $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 in the last three months. 0.15% of the stock is owned by corporate insiders.

Adobe Trading Up 0.9 %

ADBE opened at $464.11 on Wednesday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The stock has a market capitalization of $202.03 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 2.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business has a fifty day moving average price of $443.14 and a 200 day moving average price of $495.16.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the firm posted $3.52 EPS. Adobe’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Citigroup lowered 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Mizuho lowered their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein lowered 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. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

About Adobe

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.