Marietta Wealth Management LLC Acquires 248 Shares of Adobe Inc. (NASDAQ:ADBE)

Marietta Wealth Management LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,872 shares of the software company’s stock after purchasing an additional 248 shares during the period. Marietta Wealth Management LLC’s holdings in Adobe were worth $6,665,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ADBE. Piscataqua Savings Bank grew its stake in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC raised its position in Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Adobe during the second quarter valued at about $33,000. Finally, Lynx Investment Advisory bought a new stake in shares of Adobe during the second quarter worth about $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the transaction, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at $1,501,989. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,501,989. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,608 shares of company stock worth $17,486,391 in the last ninety days. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $493.11 on Wednesday. The stock has a market cap of $218.64 billion, a P/E ratio of 44.30, a P/E/G ratio of 2.55 and a beta of 1.29. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a 50 day moving average of $533.94 and a 200 day moving average of $516.05. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the business posted $3.26 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a research note on Tuesday, October 15th. Barclays raised their target price on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Piper Sandler Companies reiterated an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. Finally, 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 report 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.