Triad Wealth Partners LLC Invests $307,000 in Adobe Inc. (NASDAQ:ADBE)

Triad Wealth Partners LLC acquired a new position in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 690 shares of the software company’s stock, valued at approximately $307,000.

Several other institutional investors have also recently modified their holdings of ADBE. Swedbank AB raised its stake in shares of Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of Adobe by 20.3% in the third quarter. Catalyst Capital Advisors LLC now owns 516 shares of the software company’s stock worth $267,000 after purchasing an additional 87 shares during the last quarter. Pittenger & Anderson Inc. raised its stake in shares of Adobe by 7.3% in the third quarter. Pittenger & Anderson Inc. now owns 3,005 shares of the software company’s stock worth $1,556,000 after purchasing an additional 205 shares during the last quarter. HF Advisory Group LLC raised its stake in shares of Adobe by 2.8% in the third quarter. HF Advisory Group LLC now owns 2,796 shares of the software company’s stock worth $1,448,000 after purchasing an additional 76 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC raised its stake in shares of Adobe by 11.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 2,000 shares of the software company’s stock worth $1,036,000 after purchasing an additional 198 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Adobe news, 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 of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,681 shares of company stock valued at $2,525,126. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $451.24 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day moving average price is $439.61 and its 200-day moving average price is $488.77. The firm has a market capitalization of $196.42 billion, a PE ratio of 36.39, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.52 earnings per share. As a group, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several research analyst reports. Jefferies Financial Group reduced their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. BMO Capital Markets reduced their price target on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, Piper Sandler reduced their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

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.