Quotient Wealth Partners LLC Sells 115 Shares of Adobe Inc. (NASDAQ:ADBE)

Quotient Wealth Partners LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,225 shares of the software company’s stock after selling 115 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Adobe were worth $1,152,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ADBE. Wellington Management Group LLP raised its position in shares of Adobe by 1,213.5% during the 4th quarter. Wellington Management Group LLP now owns 2,024,438 shares of the software company’s stock valued at $1,207,780,000 after purchasing an additional 1,870,307 shares during the period. Swedbank AB bought a new stake in shares of Adobe during the first quarter worth $621,179,000. Longview Partners Guernsey LTD bought a new stake in shares of Adobe during the second quarter valued at approximately $663,745,000. Price T Rowe Associates Inc. MD increased its stake in shares of Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock valued at $3,857,189,000 after buying an additional 1,146,718 shares during the period. Finally, BlueSpruce Investments LP lifted its holdings in Adobe by 81.1% during the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock worth $648,712,000 after buying an additional 575,675 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Up 2.0 %

Shares of ADBE traded up $10.12 during mid-day trading on Thursday, hitting $504.20. 1,168,302 shares of the company traded hands, compared to its average volume of 3,222,167. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. 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 company has a market capitalization of $223.56 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29. The business has a 50 day moving average of $538.76 and a 200 day moving average of $515.91.

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. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 earnings per share. Equities research analysts anticipate that Adobe Inc. will post 14.79 EPS for the current year.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the business’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 transaction of $857,151.90. Following the transaction, the executive vice president now owns 20,359 shares in the company, valued at approximately $11,405,722.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $560.23, for a total transaction of $857,151.90. Following the completion of the sale, the executive vice president now directly owns 20,359 shares of the company’s stock, valued at $11,405,722.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,759 shares of company stock valued at $17,642,653. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on ADBE. Sanford C. Bernstein dropped their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. BMO Capital Markets raised their price target on shares of Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Bank of America reaffirmed a “buy” rating and set a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. KeyCorp lifted their price target on shares of Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a research report on Friday, June 14th. Finally, Robert W. Baird increased their price target on shares of Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Adobe Company 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.