ERTS Wealth Advisors LLC Acquires Shares of 355 Adobe Inc. (NASDAQ:ADBE)

ERTS Wealth Advisors LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 355 shares of the software company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Reilly Financial Advisors LLC boosted its stake in shares of Adobe by 1.2% in the second quarter. Reilly Financial Advisors LLC now owns 1,467 shares of the software company’s stock worth $859,000 after acquiring an additional 17 shares during the last quarter. Beaumont Financial Partners LLC boosted its stake in shares of Adobe by 1.0% in the second quarter. Beaumont Financial Partners LLC now owns 1,742 shares of the software company’s stock worth $1,023,000 after acquiring an additional 17 shares during the last quarter. EPG Wealth Management LLC boosted its stake in shares of Adobe by 1.6% in the second quarter. EPG Wealth Management LLC now owns 1,054 shares of the software company’s stock worth $617,000 after acquiring an additional 17 shares during the last quarter. Windward Capital Management Co. CA boosted its stake in shares of Adobe by 1.2% in the second quarter. Windward Capital Management Co. CA now owns 1,477 shares of the software company’s stock worth $865,000 after acquiring an additional 18 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Adobe by 5.5% in the second quarter. Creative Financial Designs Inc. ADV now owns 362 shares of the software company’s stock worth $212,000 after acquiring an additional 19 shares during the last quarter. 81.67% of the stock is currently owned by institutional investors.

Shares of NASDAQ:ADBE traded down $18.54 on Wednesday, hitting $627.35. 146,266 shares of the company’s stock were exchanged, compared to its average volume of 2,209,240. The firm’s 50-day moving average is $638.74 and its 200 day moving average is $555.67. The company has a market capitalization of $298.87 billion, a PE ratio of 54.44, a P/E/G ratio of 3.42 and a beta of 0.97. Adobe Inc. has a 1-year low of $420.78 and a 1-year high of $673.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.31 and a current ratio of 1.31.

Adobe (NASDAQ:ADBE) last posted its earnings results on Tuesday, September 21st. The software company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.10. Adobe had a return on equity of 35.94% and a net margin of 38.79%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the previous year, the business earned $2.12 EPS. The business’s quarterly revenue was up 22.0% on a year-over-year basis. On average, analysts anticipate that Adobe Inc. will post 10.28 EPS for the current fiscal year.

ADBE has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on Adobe from $600.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on Adobe from $610.00 to $736.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 15th. They noted that the move was a valuation call. Stifel Nicolaus lifted their price objective on Adobe from $725.00 to $750.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group lifted their target price on Adobe from $625.00 to $690.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, lifted their target price on Adobe from $523.00 to $575.00 and gave the company a “neutral” rating in a research report on Friday, June 18th. Four analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $679.57.

In other Adobe news, EVP Dana Rao sold 488 shares of the company’s stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $621.71, for a total transaction of $303,394.48. Following the completion of the sale, the executive vice president now directly owns 14,579 shares of the company’s stock, valued at approximately $9,063,910.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gloria Chen sold 42 shares of the company’s stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $659.63, for a total value of $27,704.46. Following the sale, the executive vice president now directly owns 11,831 shares of the company’s stock, valued at $7,804,082.53. The disclosure for this sale can be found here. Insiders sold a total of 4,530 shares of company stock valued at $2,705,892 over the last three months. Company insiders own 0.23% of the company’s stock.

Adobe Profile

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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