Adobe Inc. (NASDAQ:ADBE) Shares Sold by First Personal Financial Services

First Personal Financial Services trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 14.5% during the third quarter, Holdings Channel reports. The firm owned 627 shares of the software company’s stock after selling 106 shares during the quarter. First Personal Financial Services’ holdings in Adobe were worth $325,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Oxbow Advisors LLC increased its holdings in shares of Adobe by 2.7% in the 3rd quarter. Oxbow Advisors LLC now owns 22,241 shares of the software company’s stock worth $11,516,000 after acquiring an additional 586 shares during the period. Tompkins Financial Corp increased its holdings in shares of Adobe by 5.5% in the 3rd quarter. Tompkins Financial Corp now owns 13,350 shares of the software company’s stock worth $6,912,000 after acquiring an additional 699 shares during the period. TCTC Holdings LLC increased its holdings in shares of Adobe by 4.6% in the 3rd quarter. TCTC Holdings LLC now owns 14,531 shares of the software company’s stock worth $7,524,000 after acquiring an additional 643 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Adobe by 2.0% in the 3rd quarter. Lindbrook Capital LLC now owns 3,578 shares of the software company’s stock worth $1,852,000 after acquiring an additional 71 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Adobe by 2.6% in the 3rd quarter. Assetmark Inc. now owns 20,323 shares of the software company’s stock worth $10,523,000 after acquiring an additional 520 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 1,530 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares in the company, valued at approximately $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This 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 have sold 34,187 shares of company stock worth $17,736,369. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $494.68 on Friday. The company has a 50 day simple moving average of $514.90 and a 200-day simple moving average of $516.42. 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 firm has a market capitalization of $217.76 billion, a price-to-earnings ratio of 41.78, a price-to-earnings-growth ratio of 2.60 and a beta of 1.30. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last posted 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 business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.26 earnings per share. Equities research analysts predict that Adobe Inc. will post 14.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADBE. Citigroup increased 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. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 target price on shares of Adobe in a research note on Tuesday, October 15th. Argus raised shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group lowered their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, Sanford C. Bernstein lowered their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe 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.