Bartlett & CO. Wealth Management LLC Has $1.99 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Bartlett & CO. Wealth Management LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,841 shares of the software company’s stock after selling 39 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Adobe were worth $1,989,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Piscataqua Savings Bank boosted its position in shares of 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 purchasing an additional 34 shares in the last quarter. Tradewinds Capital Management LLC lifted its position in shares of 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 boosted its position in shares of Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new position in Adobe in the second quarter worth approximately $33,000. Finally, Steph & Co. raised its position in shares of Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,501,989. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the transaction, the executive vice president now owns 19,658 shares in the company, valued at $10,556,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,608 shares of company stock worth $17,486,391. 0.15% of the stock is owned by insiders.

Adobe Stock Down 0.4 %

Adobe stock opened at $494.90 on Friday. The stock has a market capitalization of $219.44 billion, a PE ratio of 44.47, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The business has a 50 day simple moving average of $535.45 and a 200-day simple moving average of $515.78. 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 results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $3.26 earnings per share. On average, analysts anticipate that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on ADBE. Morgan Stanley restated an “overweight” rating and set a $660.00 price target on shares of Adobe in a research note on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 target price on shares of Adobe in a research report on Tuesday, October 15th. Citigroup lifted their target price on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Oppenheimer reiterated an “outperform” rating and issued a $625.00 target price on shares of Adobe in a research note on Friday, September 13th. Finally, UBS Group dropped their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Adobe 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.