Compass Wealth Management LLC Has $3.15 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Compass Wealth Management LLC trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 26.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,081 shares of the software company’s stock after selling 2,515 shares during the period. Compass Wealth Management LLC’s holdings in Adobe were worth $3,149,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADBE. Linden Thomas Advisory Services LLC raised its position in shares of Adobe by 8.0% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 10,672 shares of the software company’s stock worth $4,746,000 after acquiring an additional 794 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position in Adobe by 6.1% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 7,548 shares of the software company’s stock valued at $3,356,000 after purchasing an additional 436 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in Adobe by 35.3% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 14,229 shares of the software company’s stock worth $6,328,000 after purchasing an additional 3,715 shares during the last quarter. Pflug Koory LLC lifted its position in shares of Adobe by 16.9% in the 4th quarter. Pflug Koory LLC now owns 463 shares of the software company’s stock worth $206,000 after purchasing an additional 67 shares during the period. Finally, Goelzer Investment Management Inc. boosted its stake in shares of Adobe by 24.1% in the 4th quarter. Goelzer Investment Management Inc. now owns 15,038 shares of the software company’s stock valued at $6,687,000 after purchasing an additional 2,925 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of 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 position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Performance

NASDAQ ADBE opened at $435.38 on Friday. The company has a fifty day moving average price of $468.14 and a 200-day moving average price of $508.06. The firm has a market cap of $189.52 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Bank of America dropped their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company cut their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada lowered their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Oppenheimer cut their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

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.