Conscious Wealth Investments LLC Has $2.27 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Conscious Wealth Investments LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,685 shares of the software company’s stock after purchasing an additional 82 shares during the quarter. Conscious Wealth Investments LLC’s holdings in Adobe were worth $2,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds 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 grew its holdings in Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares during the period. Summit Securities Group LLC bought a new stake in Adobe in the second quarter valued at $33,000. Finally, Lynx Investment Advisory acquired a new position in shares of Adobe during the second quarter valued at about $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,030 shares of company stock worth $17,176,005. 0.15% of the stock is currently owned by insiders.

Adobe Stock Up 0.2 %

Shares of NASDAQ ADBE traded up $0.85 during midday trading on Friday, reaching $483.72. 2,426,769 shares of the company’s stock traded hands, compared to its average volume of 3,190,407. The company has a market cap of $214.48 billion, a price-to-earnings ratio of 43.46, a P/E/G ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The stock’s 50 day simple moving average is $530.03 and its 200-day simple moving average is $515.76.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the business earned $3.26 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Argus upgraded Adobe to a “strong-buy” rating in a report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and issued a $610.00 target price on shares of Adobe in a report on Tuesday, October 15th. Piper Sandler Companies restated an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research note on Friday, July 12th. Sanford C. Bernstein reduced their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $606.40.

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.