Adobe Inc. (NASDAQ:ADBE) Shares Sold by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,980 shares of the software company’s stock after selling 26 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Adobe were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in ADBE. Tradewinds Capital Management LLC lifted its position in shares of Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Adobe during the 2nd quarter valued at about $33,000. Lynx Investment Advisory acquired a new position in Adobe during the second quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC acquired a new position in Adobe during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $52,089.00. Following the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the completion of the transaction, the chief executive officer now directly owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The disclosure for this sale can be found here. Insiders have sold 27,259 shares of company stock worth $14,855,543 in the last 90 days. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $610.00 price objective on shares of Adobe in a research report on Friday. KeyCorp upped their price objective on shares of Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a research note on Friday, June 14th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Finally, UBS Group reduced their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $606.58.

Adobe Trading Down 8.5 %

NASDAQ ADBE opened at $536.87 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $553.76 and a 200 day simple moving average of $519.73. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The firm has a market capitalization of $238.05 billion, a P/E ratio of 48.24, a PEG ratio of 3.03 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the company posted $3.26 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Adobe Inc. will post 14.69 EPS 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.