Conscious Wealth Investments LLC Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Conscious Wealth Investments LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,603 shares of the software company’s stock after buying an additional 44 shares during the quarter. Conscious Wealth Investments LLC’s holdings in Adobe were worth $2,514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ADBE. Concentrum Wealth Management lifted its holdings in Adobe by 11.3% during the 4th quarter. Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock worth $1,435,194,000 after purchasing an additional 244,008 shares in the last quarter. Aveo Capital Partners LLC lifted its holdings in shares of Adobe by 5.9% in the fourth quarter. Aveo Capital Partners LLC now owns 932 shares of the software company’s stock worth $556,000 after buying an additional 52 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in shares of Adobe by 22.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,561 shares of the software company’s stock worth $2,066,000 after buying an additional 658 shares in the last quarter. Level Four Advisory Services LLC boosted its position in shares of Adobe by 7.5% in the fourth quarter. Level Four Advisory Services LLC now owns 1,451 shares of the software company’s stock valued at $866,000 after acquiring an additional 101 shares during the period. Finally, TrinityPoint Wealth LLC grew its stake in Adobe by 3.0% during the fourth quarter. TrinityPoint Wealth LLC now owns 1,097 shares of the software company’s stock valued at $654,000 after acquiring an additional 32 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

ADBE opened at $521.50 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The stock’s 50 day simple moving average is $552.68 and its 200 day simple moving average is $519.46. The firm has a market cap of $231.23 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 3.03 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the business earned $3.26 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. As a group, analysts predict that Adobe Inc. will post 14.69 earnings per share for the current year.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 1,530 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $560.23, for a total transaction of $857,151.90. Following the completion of the sale, the executive vice president now directly owns 20,359 shares in the company, valued at $11,405,722.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the transaction, the chief executive officer now directly owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $560.23, for a total value of $857,151.90. Following the transaction, the executive vice president now owns 20,359 shares of the company’s stock, valued at approximately $11,405,722.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,259 shares of company stock worth $14,855,543. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley reissued an “overweight” rating and issued a $660.00 price target on shares of Adobe in a report on Friday. Evercore ISI reissued an “outperform” rating and set a $650.00 price objective on shares of Adobe in a research note on Friday, June 7th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday. Robert W. Baird lifted their price target on Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. Finally, Wells Fargo & Company boosted their price objective on Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $606.58.

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.