Barlow Wealth Partners Inc. Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Barlow Wealth Partners Inc. lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,536 shares of the software company’s stock after purchasing an additional 971 shares during the period. Adobe comprises about 2.8% of Barlow Wealth Partners Inc.’s investment portfolio, making the stock its 10th largest position. Barlow Wealth Partners Inc.’s holdings in Adobe were worth $21,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Onyx Bridge Wealth Group LLC grew its holdings in Adobe by 3.9% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after acquiring an additional 19 shares in the last quarter. HTLF Bank raised its position in shares of Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares during the last quarter. Commonwealth Financial Services LLC raised its position in shares of Adobe by 3.7% in the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after purchasing an additional 19 shares during the last quarter. Visionary Wealth Advisors raised its position in shares of Adobe by 1.0% in the 4th quarter. Visionary Wealth Advisors now owns 1,962 shares of the software company’s stock valued at $1,171,000 after purchasing an additional 20 shares during the last quarter. Finally, Orrstown Financial Services Inc. raised its position in shares of Adobe by 0.9% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after purchasing an additional 20 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $560.23, for a total value of $857,151.90. Following the completion of the transaction, the executive vice president now directly owns 20,359 shares of the company’s stock, valued at $11,405,722.57. This 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 through this hyperlink. 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 transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $560.23, for a total value of $857,151.90. Following the sale, the executive vice president now owns 20,359 shares of the company’s stock, valued at $11,405,722.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,759 shares of company stock valued at $17,642,653 over the last three months. 0.15% of the stock is owned by corporate insiders.

Adobe Trading Down 0.7 %

NASDAQ ADBE traded down $3.44 during trading on Wednesday, hitting $492.80. The stock had a trading volume of 428,582 shares, compared to its average volume of 3,219,267. The company has a market capitalization of $218.51 billion, a PE ratio of 44.59, a PEG 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. The firm has a 50 day moving average price of $539.91 and a 200 day moving average price of $516.07. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the company posted $3.26 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts forecast that Adobe Inc. will post 14.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Barclays lifted their price target on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Robert W. Baird lifted their target price on shares of Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.