Aptus Capital Advisors LLC Has $11.25 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Aptus Capital Advisors LLC lowered its position in Adobe Inc. (NASDAQ:ADBE) by 93.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 21,718 shares of the software company’s stock after selling 330,409 shares during the period. Aptus Capital Advisors LLC’s holdings in Adobe were worth $11,245,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Piscataqua Savings Bank boosted its position in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe during the 2nd quarter valued at about $33,000. Highline Wealth Partners LLC bought a new stake in shares of Adobe during the 3rd quarter valued at about $38,000. Lynx Investment Advisory acquired a new stake in Adobe during the second quarter worth approximately $39,000. Finally, Hobbs Group Advisors LLC bought a new stake in Adobe in the second quarter worth approximately $39,000. 81.79% of the stock is owned by institutional investors.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 1,530 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the transaction, the executive vice president now owns 18,831 shares in the company, valued at approximately $9,675,744.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the transaction, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,187 shares of company stock worth $17,736,369. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Adobe stock traded up $21.88 during mid-day trading on Tuesday, reaching $526.36. 1,135,737 shares of the company’s stock were exchanged, compared to its average volume of 3,150,911. The business’s fifty day simple moving average is $513.50 and its 200 day simple moving average is $517.22. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The firm has a market capitalization of $231.70 billion, a PE ratio of 42.61, a P/E/G ratio of 2.55 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last issued its quarterly 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 company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm earned $3.26 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that Adobe Inc. will post 14.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADBE. UBS Group reduced their price objective on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Bank of America reiterated a “buy” rating and set a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. Stifel Nicolaus raised their target price on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Sanford C. Bernstein dropped their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.