Arkadios Wealth Advisors Grows Position in Adobe Inc. (NASDAQ:ADBE)

Arkadios Wealth Advisors increased its position in shares of Adobe Inc. (NASDAQ:ADBE – Get Rating) by 142.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,602 shares of the software company’s stock after purchasing an additional 2,117 shares during the period. Arkadios Wealth Advisors’ holdings in Adobe were worth $1,212,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ADBE. Grayhawk Investment Strategies Inc. purchased a new stake in Adobe in the 2nd quarter valued at about $25,000. Financial Enhancement Group LLC boosted its position in Adobe by 338.1% in the 3rd quarter. Financial Enhancement Group LLC now owns 92 shares of the software company’s stock valued at $25,000 after buying an additional 71 shares during the period. TD Capital Management LLC purchased a new stake in Adobe in the 3rd quarter valued at about $28,000. Insight Inv LLC purchased a new stake in Adobe in the 2nd quarter valued at about $53,000. Finally, Western Pacific Wealth Management LP boosted its position in Adobe by 3,550.0% in the 3rd quarter. Western Pacific Wealth Management LP now owns 146 shares of the software company’s stock valued at $40,000 after buying an additional 142 shares during the period. 79.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on ADBE shares. Citigroup boosted their price objective on shares of Adobe from $337.00 to $355.00 and gave the company a “neutral” rating in a research report on Monday, December 19th. UBS Group upped their price target on shares of Adobe from $350.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Morgan Stanley upped their price target on shares of Adobe from $382.00 to $385.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wolfe Research lowered their price target on shares of Adobe from $440.00 to $420.00 in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $395.00 price target on shares of Adobe in a research report on Monday, March 13th. Sixteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $415.70.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 132 shares of the company’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $338.00, for a total transaction of $44,616.00. Following the transaction, the chief accounting officer now owns 3,271 shares in the company, valued at approximately $1,105,598. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Mark S. Garfield sold 132 shares of the stock in a transaction on Monday, December 19th. The shares were sold at an average price of $338.00, for a total value of $44,616.00. Following the sale, the chief accounting officer now owns 3,271 shares in the company, valued at $1,105,598. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 209 shares of the stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $355.42, for a total transaction of $74,282.78. Following the completion of the sale, the chief accounting officer now owns 3,479 shares in the company, valued at approximately $1,236,506.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,265 shares of company stock worth $9,067,344. 0.24% of the stock is owned by corporate insiders.

Adobe Trading Up 1.4 %

Shares of Adobe stock opened at $358.14 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. Adobe Inc. has a 12-month low of $274.73 and a 12-month high of $473.49. The firm has a market capitalization of $164.24 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 2.08 and a beta of 1.27. The firm’s 50 day simple moving average is $353.24 and its two-hundred day simple moving average is $333.90.

Adobe (NASDAQ:ADBE – Get Rating) last issued its quarterly earnings results on Wednesday, March 15th. The software company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.12. Adobe had a net margin of 26.32% and a return on equity of 36.58%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same quarter in the prior year, the business posted $2.84 EPS. Adobe’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts predict that Adobe Inc. will post 12.15 EPS for the current year.

Adobe Company Profile

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Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.