1,366 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by ORG Wealth Partners LLC

ORG Wealth Partners LLC purchased a new position in Adobe Inc. (NASDAQ:ADBE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,366 shares of the software company’s stock, valued at approximately $707,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Tradewinds Capital Management LLC increased its position in shares of Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Adobe during the 2nd quarter valued at approximately $33,000. Lynx Investment Advisory purchased a new stake in Adobe during the 2nd quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Adobe during the 2nd quarter valued at approximately $39,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock opened at $503.50 on Monday. The stock’s fifty day moving average price is $537.29 and its 200-day moving average price is $515.88. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market cap of $223.25 billion, a P/E ratio of 44.51, a P/E/G ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm earned $3.26 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ADBE shares. Bank of America reaffirmed a “buy” rating and set a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. Citigroup increased their target price on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Sanford C. Bernstein lowered their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $610.00 price target on shares of Adobe in a research report on Friday, September 13th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $606.40.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 151 shares of Adobe stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,579,186.20. The trade was 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 at the SEC website. In other Adobe news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the completion of the sale, the executive vice president now owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. This trade 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 can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,579,186.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,229 shares of company stock worth $16,785,501 over the last quarter. 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.