Avior Wealth Management LLC Acquires 178 Shares of Adobe Inc. (NASDAQ:ADBE)

Avior Wealth Management LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 29.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 789 shares of the software company’s stock after buying an additional 178 shares during the period. Avior Wealth Management LLC’s holdings in Adobe were worth $409,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Piscataqua Savings Bank increased its holdings in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Adobe in the third quarter worth about $30,000. Summit Securities Group LLC bought a new position in Adobe during the second quarter worth about $33,000. Highline Wealth Partners LLC acquired a new stake in Adobe during the third quarter valued at approximately $38,000. Finally, Lynx Investment Advisory bought a new stake in shares of Adobe in the 2nd quarter valued at approximately $39,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the 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 of the company’s stock, valued at $186,569,166. This trade represents a 6.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock worth $17,736,369 in the last ninety days. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock opened at $504.47 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The firm has a market cap of $222.07 billion, a P/E ratio of 42.61, a P/E/G ratio of 2.57 and a beta of 1.30. The business’s 50 day moving average price is $503.63 and its 200-day moving average price is $518.71.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating 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 business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the firm posted $3.26 EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $610.00 target price on shares of Adobe in a report on Tuesday, October 15th. Citigroup raised their price objective on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Morgan Stanley reissued an “overweight” rating and issued a $660.00 target price on shares of Adobe in a report on Friday, September 13th. StockNews.com raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Sanford C. Bernstein reduced their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus 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.