Goodman Advisory Group LLC Has $158,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Goodman Advisory Group LLC lessened its position in Adobe Inc. (NASDAQ:ADBE) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284 shares of the software company’s stock after selling 30 shares during the period. Goodman Advisory Group LLC’s holdings in Adobe were worth $158,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Tradewinds Capital Management LLC raised its stake in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after buying an additional 45 shares during the period. Summit Securities Group LLC bought a new position in Adobe in the 2nd quarter valued at about $33,000. Steph & Co. boosted its holdings in shares of Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after acquiring an additional 30 shares during the period. Finally, Lynx Investment Advisory acquired a new position in shares of Adobe in the second quarter valued at approximately $39,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent research reports. Argus upgraded Adobe to a “strong-buy” rating in a research note on Monday, September 16th. TD Cowen decreased their price target on shares of Adobe from $640.00 to $625.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 target price on shares of Adobe in a report on Friday, June 7th. Finally, Citigroup boosted their price target on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Price Performance

ADBE stock opened at $515.48 on Friday. The company has a market capitalization of $228.56 billion, a P/E ratio of 46.31, a PEG ratio of 2.72 and a beta of 1.29. The company has a fifty day moving average price of $545.13 and a 200-day moving average price of $517.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.11. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company earned $3.26 EPS. Adobe’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that Adobe Inc. will post 14.79 EPS for the current year.

Insider Activity at Adobe

In other Adobe news, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,579,186.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Adobe news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,579,186.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. The disclosure for this sale can be found here. Insiders have sold 33,759 shares of company stock worth $17,642,653 over the last ninety days. Insiders own 0.15% of the company’s stock.

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.