Dopkins Wealth Management LLC Has $462,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Dopkins Wealth Management LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 832 shares of the software company’s stock after buying an additional 32 shares during the period. Dopkins Wealth Management LLC’s holdings in Adobe were worth $462,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Sound View Wealth Advisors Group LLC boosted its holdings in shares of Adobe by 2.5% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 696 shares of the software company’s stock worth $415,000 after acquiring an additional 17 shares during the period. Wade G W & Inc. raised its position in shares of Adobe by 0.5% in the fourth quarter. Wade G W & Inc. now owns 3,712 shares of the software company’s stock worth $2,215,000 after buying an additional 18 shares in the last quarter. Invst LLC raised its position in shares of Adobe by 2.1% in the fourth quarter. Invst LLC now owns 934 shares of the software company’s stock worth $567,000 after buying an additional 19 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its position in shares of Adobe by 3.9% in the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after buying an additional 19 shares in the last quarter. Finally, HTLF Bank raised its position in shares of Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the sale, the executive vice president now directly owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the sale, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the transaction, the executive vice president now owns 19,658 shares of the company’s stock, valued at $10,556,346. The disclosure for this sale can be found here. Insiders have sold 27,523 shares of company stock valued at $14,994,277 over the last ninety days. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, June 14th. StockNews.com downgraded Adobe from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Sanford C. Bernstein increased their price objective on Adobe from $653.00 to $660.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Stifel Nicolaus lowered their price objective on Adobe from $625.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Finally, Piper Sandler lowered their price objective on Adobe from $700.00 to $635.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $601.38.

Adobe Trading Up 0.8 %

Shares of NASDAQ:ADBE traded up $4.78 on Friday, reaching $574.41. 1,982,970 shares of the company traded hands, compared to its average volume of 3,201,657. The business’s 50-day simple moving average is $549.50 and its 200 day simple moving average is $519.90. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The stock has a market capitalization of $254.69 billion, a P/E ratio of 51.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.30. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.39 by $0.09. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. Adobe’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $3.04 earnings per share. As a group, equities analysts anticipate that Adobe Inc. will post 14.69 EPS for the current fiscal year.

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.