Sheaff Brock Investment Advisors LLC Sells 340 Shares of Adobe Inc. (NASDAQ:ADBE)

Sheaff Brock Investment Advisors LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,528 shares of the software company’s stock after selling 340 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Adobe were worth $3,380,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ADBE. Piscataqua Savings Bank increased its position in 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 buying an additional 34 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Adobe in the 2nd quarter valued at approximately $33,000. Lynx Investment Advisory acquired a new stake in Adobe in the 2nd quarter worth approximately $39,000. Hobbs Group Advisors LLC purchased a new stake in Adobe during the 2nd quarter worth approximately $39,000. Finally, Highline Wealth Partners LLC acquired a new position in Adobe during the 3rd quarter valued at approximately $38,000. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. This trade represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,187 shares of company stock worth $17,736,369 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ADBE shares. Sanford C. Bernstein reduced their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Stifel Nicolaus increased their price objective on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Morgan Stanley restated an “overweight” rating and issued a $660.00 target price on shares of Adobe in a research note on Friday, September 13th. Finally, Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $525.02 on Friday. The stock’s 50-day moving average is $511.75 and its two-hundred day moving average is $517.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $231.11 billion, a price-to-earnings ratio of 44.75, a price-to-earnings-growth ratio of 2.74 and a beta of 1.30. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company earned $3.26 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. Analysts forecast that Adobe Inc. will post 14.82 EPS for the current fiscal year.

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.