Marcum Wealth LLC Has $437,000 Position in Adobe Inc. (NASDAQ:ADBE)

Marcum Wealth LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 14.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 983 shares of the software company’s stock after selling 169 shares during the quarter. Marcum Wealth LLC’s holdings in Adobe were worth $437,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. WealthPLAN Partners LLC lifted its position in Adobe by 20.1% during the 2nd quarter. WealthPLAN Partners LLC now owns 5,395 shares of the software company’s stock valued at $2,997,000 after purchasing an additional 903 shares during the period. Lmcg Investments LLC grew its position in shares of Adobe by 8.5% during the 2nd quarter. Lmcg Investments LLC now owns 23,822 shares of the software company’s stock worth $13,234,000 after buying an additional 1,860 shares during the period. Excalibur Management Corp bought a new stake in shares of Adobe during the second quarter worth approximately $344,000. Conscious Wealth Investments LLC lifted its holdings in Adobe by 1.0% in the second quarter. Conscious Wealth Investments LLC now owns 4,603 shares of the software company’s stock valued at $2,514,000 after buying an additional 44 shares during the period. Finally, Stock Yards Bank & Trust Co. boosted its stake in Adobe by 9.7% in the second quarter. Stock Yards Bank & Trust Co. now owns 41,602 shares of the software company’s stock valued at $23,112,000 after acquiring an additional 3,670 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,763 shares of company stock worth $893,665. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADBE. Bank of America cut their price target on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Sanford C. Bernstein cut their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus reduced their target price on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. BMO Capital Markets lowered their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, DA Davidson reduced their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $575.85.

Adobe Stock Up 1.0 %

Shares of Adobe stock opened at $412.71 on Wednesday. The firm has a market cap of $181.67 billion, a PE ratio of 33.28, a P/E/G ratio of 2.51 and a beta of 1.31. The business’s 50 day simple moving average is $481.07 and its 200 day simple moving average is $515.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the business earned $3.52 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Adobe Inc. will post 16.73 earnings per share for the current fiscal year.

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.