Compass Wealth Management LLC Sells 765 Shares of Adobe Inc. (NASDAQ:ADBE)

Compass Wealth Management LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 7.4% during the third quarter, HoldingsChannel.com reports. The firm owned 9,596 shares of the software company’s stock after selling 765 shares during the quarter. Compass Wealth Management LLC’s holdings in Adobe were worth $4,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Piscataqua Savings Bank lifted its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. Tradewinds Capital Management LLC lifted its stake in Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after acquiring an additional 40 shares during the period. Salomon & Ludwin LLC lifted its stake in Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Summit Securities Group LLC bought a new position in Adobe during the 2nd quarter valued at about $33,000. Finally, Steph & Co. lifted its stake in Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE traded down $2.33 during midday trading on Thursday, reaching $500.21. 1,009,686 shares of the stock traded hands, compared to its average volume of 3,213,702. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $221.79 billion, a PE ratio of 44.50, a P/E/G ratio of 2.55 and a beta of 1.29. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company’s 50 day moving average is $536.95 and its 200 day moving average is $515.85.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results 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. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $3.26 earnings per share. On average, equities research analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Adobe news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction 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 sale, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,078 shares of company stock worth $16,700,246 over the last three months. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several research reports. Barclays upped their price target on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Citigroup upped their price target on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. UBS Group reduced their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Stifel Nicolaus upped their price target 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, Oppenheimer reaffirmed an “outperform” rating and set a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

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.