Marks Group Wealth Management Inc Has $330,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Marks Group Wealth Management Inc cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 85.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 637 shares of the software company’s stock after selling 3,827 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Adobe were worth $330,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC increased its holdings 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 valued at $281,000 after purchasing an additional 19 shares during the last quarter. HTLF Bank grew its stake in Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after buying an additional 19 shares during the last quarter. Commonwealth Financial Services LLC raised its holdings in Adobe by 3.7% in the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after acquiring an additional 19 shares during the period. Orrstown Financial Services Inc. lifted its position 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 acquiring an additional 20 shares during the last quarter. Finally, Orser Capital Management LLC lifted its position in Adobe by 0.3% during the second quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ADBE. Argus upgraded Adobe to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group dropped their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Finally, Barclays raised their target price on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Price Performance

Adobe stock opened at $504.83 on Thursday. The company has a market capitalization of $222.23 billion, a PE ratio of 42.64, a P/E/G ratio of 2.49 and a beta of 1.30. 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 stock has a 50-day moving average price of $517.87 and a two-hundred day moving average price of $516.33. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the company earned $3.26 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that Adobe Inc. will post 14.82 EPS for the current year.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Adobe news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock valued at $17,736,369 over the last 90 days. 0.15% of the stock is owned by insiders.

About Adobe

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.