True Wealth Design LLC Has $30,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

True Wealth Design LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 141.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58 shares of the software company’s stock after purchasing an additional 34 shares during the period. True Wealth Design LLC’s holdings in Adobe were worth $30,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADBE. Onyx Bridge Wealth Group LLC raised its holdings in Adobe by 3.9% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after acquiring an additional 19 shares in the last quarter. HTLF Bank raised its stake in Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares in the last quarter. Commonwealth Financial Services LLC lifted its position in Adobe by 3.7% during the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after purchasing an additional 19 shares during the period. Orrstown Financial Services Inc. grew its stake in Adobe by 0.9% during the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock worth $1,257,000 after buying an additional 20 shares in the last quarter. Finally, Orser Capital Management LLC increased its holdings in Adobe by 0.3% in the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock valued at $3,815,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $515.93 on Monday. The business has a 50-day moving average of $503.01 and a 200-day moving average of $520.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $227.11 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 2.66 and a beta of 1.30. Adobe Inc. has a 1 year low of $433.97 and a 1 year 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 for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the firm earned $3.26 earnings per share. Adobe’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current year.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 23.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,187 shares of company stock worth $17,736,369. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ADBE has been the topic of a number of recent analyst reports. Sanford C. Bernstein decreased their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Stifel Nicolaus lifted their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Oppenheimer reissued an “outperform” rating and set a $625.00 price target on shares of Adobe in a report on Friday, September 13th. Barclays raised their price objective on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Bank of America reissued a “buy” rating and set a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.