Hudock Inc. Cuts Position in Adobe Inc. (NASDAQ:ADBE)

Hudock Inc. decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 653 shares of the software company’s stock after selling 31 shares during the period. Hudock Inc.’s holdings in Adobe were worth $338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Cypress Wealth Services LLC raised its holdings in Adobe by 40.1% in the 1st quarter. Cypress Wealth Services LLC now owns 479 shares of the software company’s stock worth $242,000 after acquiring an additional 137 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of Adobe in the 1st quarter worth $111,000. Cambridge Advisors Inc. purchased a new position in shares of Adobe in the first quarter worth $202,000. Kathmere Capital Management LLC lifted its holdings in shares of Adobe by 1.9% during the first quarter. Kathmere Capital Management LLC now owns 3,073 shares of the software company’s stock valued at $1,551,000 after purchasing an additional 58 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. boosted its position in shares of Adobe by 4.1% during the first quarter. Astoria Portfolio Advisors LLC. now owns 888 shares of the software company’s stock valued at $417,000 after buying an additional 35 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,030 shares of company stock valued at $17,176,005 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citigroup boosted their target price on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $610.00 target price on shares of Adobe in a research report on Tuesday, October 15th. Sanford C. Bernstein lowered their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Finally, StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Adobe Price Performance

Shares of NASDAQ:ADBE traded up $4.04 during midday trading on Friday, hitting $486.91. The company’s stock had a trading volume of 359,040 shares, compared to its average volume of 3,180,429. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a market cap of $215.90 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day simple moving average is $532.85 and its 200 day simple moving average is $515.83.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.26 earnings per share. On average, analysts forecast that Adobe Inc. will post 14.8 EPS 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.