Venturi Wealth Management LLC Purchases 196 Shares of Adobe Inc. (NASDAQ:ADBE)

Venturi Wealth Management LLC boosted its position in Adobe Inc. (NASDAQ:ADBE) by 8.2% in the third quarter, HoldingsChannel.com reports. The firm owned 2,573 shares of the software company’s stock after acquiring an additional 196 shares during the period. Venturi Wealth Management LLC’s holdings in Adobe were worth $1,332,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Piscataqua Savings Bank increased its holdings in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Adobe in the 2nd quarter worth approximately $33,000. Highline Wealth Partners LLC purchased a new stake in Adobe in the 3rd quarter worth approximately $38,000. Lynx Investment Advisory purchased a new stake in Adobe in the 2nd quarter worth approximately $39,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Adobe in the 2nd quarter worth approximately $39,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Up 2.0 %

NASDAQ ADBE opened at $504.48 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $222.07 billion, a PE ratio of 42.61, a P/E/G ratio of 2.55 and a beta of 1.30. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The firm’s fifty day moving average is $514.90 and its two-hundred day moving average is $517.00.

Adobe (NASDAQ:ADBE) last issued its earnings results 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. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.26 earnings per share. Analysts expect that Adobe Inc. will post 14.82 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on ADBE. Oppenheimer restated an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research report on Friday, September 13th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. UBS Group decreased their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $660.00 target price on shares of Adobe in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Insider Buying and Selling

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the company’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 of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Adobe news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,187 shares of company stock valued at $17,736,369. Corporate insiders own 0.15% of the company’s stock.

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.