B. Riley Wealth Advisors Inc. Has $8.11 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

B. Riley Wealth Advisors Inc. trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,600 shares of the software company’s stock after selling 2,363 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Adobe were worth $8,111,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADBE. Concentrum Wealth Management lifted its stake in Adobe by 11.3% in the 4th quarter. Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock valued at $1,435,194,000 after purchasing an additional 244,008 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Adobe by 5.9% during the 4th quarter. Aveo Capital Partners LLC now owns 932 shares of the software company’s stock valued at $556,000 after acquiring an additional 52 shares in the last quarter. J. W. Coons Advisors LLC grew its position in Adobe by 2.6% during the 4th quarter. J. W. Coons Advisors LLC now owns 1,843 shares of the software company’s stock worth $1,100,000 after acquiring an additional 46 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in Adobe by 14.7% during the 4th quarter. Eagle Asset Management Inc. now owns 24,400 shares of the software company’s stock worth $14,557,000 after purchasing an additional 3,120 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of Adobe by 58.2% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 144 shares of the software company’s stock worth $86,000 after purchasing an additional 53 shares during the period. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 0.0 %

ADBE stock opened at $515.48 on Monday. The firm has a market capitalization of $228.56 billion, a PE ratio of 46.31, a P/E/G ratio of 2.72 and a beta of 1.29. The company has a quick ratio of 1.16, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The stock’s 50 day moving average is $545.13 and its 200-day moving average is $516.82.

Adobe (NASDAQ:ADBE) last issued 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 last year, the business earned $3.26 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Sell-side analysts expect that Adobe Inc. will post 14.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value 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 $186,569,166. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction 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 sale, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,759 shares of company stock worth $17,642,653. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of analyst reports. Sanford C. Bernstein lowered their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Stifel Nicolaus boosted their price objective on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. UBS Group decreased their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Mizuho reissued a “buy” rating and issued a $640.00 price target (down from $680.00) on shares of Adobe in a research note on Friday, June 7th. Finally, Barclays raised their price objective on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average 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.