Adobe Inc. (NASDAQ:ADBE) Shares Bought by Shelton Wealth Management LLC

Shelton Wealth Management LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 24.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,924 shares of the software company’s stock after purchasing an additional 381 shares during the quarter. Shelton Wealth Management LLC’s holdings in Adobe were worth $856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Piscataqua Savings Bank increased its stake in shares of Adobe by 226.7% during the 3rd 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. Legacy Investment Solutions LLC purchased a new stake in Adobe in the third quarter valued at approximately $26,000. Groupama Asset Managment increased its position in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Adobe during the third quarter worth approximately $30,000. Finally, True Wealth Design LLC grew its stake in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ADBE shares. Royal Bank of Canada lowered their price target on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group reduced their price target on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Sanford C. Bernstein lowered their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 481 shares of the stock in a transaction 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 transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 1,763 shares of company stock worth $893,665. 0.15% of the stock is owned by corporate insiders.

Adobe Trading Up 0.7 %

NASDAQ:ADBE opened at $429.99 on Friday. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25. The business has a fifty day moving average of $477.84 and a 200-day moving average of $513.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07. The stock has a market cap of $189.28 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 1.97 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion during 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $3.52 EPS. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current 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.