Ausdal Financial Partners Inc. Sells 137 Shares of Adobe Inc. (NASDAQ:ADBE)

Ausdal Financial Partners Inc. lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 6.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,912 shares of the software company’s stock after selling 137 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in Adobe were worth $1,062,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ADBE. International Assets Investment Management LLC bought a new position in shares of Adobe during the 4th quarter worth approximately $1,468,000. Concentrum Wealth Management grew its position in Adobe by 11.3% in the fourth quarter. Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock valued at $1,435,194,000 after purchasing an additional 244,008 shares in the last quarter. Aveo Capital Partners LLC increased its stake in Adobe by 5.9% in the 4th quarter. Aveo Capital Partners LLC now owns 932 shares of the software company’s stock valued at $556,000 after buying an additional 52 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in Adobe by 22.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,561 shares of the software company’s stock worth $2,066,000 after buying an additional 658 shares in the last quarter. Finally, AGF Management Ltd. boosted its stake in shares of Adobe by 0.4% during the 4th quarter. AGF Management Ltd. now owns 8,182 shares of the software company’s stock worth $4,881,000 after buying an additional 34 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ:ADBE opened at $563.41 on Monday. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s 50-day simple moving average is $553.72 and its 200 day simple moving average is $519.08. The firm has a market cap of $249.82 billion, a price-to-earnings ratio of 50.62, a P/E/G ratio of 3.00 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.39 by $0.09. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the firm earned $3.04 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Adobe Inc. will post 14.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $560.23, for a total transaction of $857,151.90. Following the completion of the sale, the executive vice president now directly owns 20,359 shares in the company, valued at approximately $11,405,722.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Mark S. Garfield sold 151 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,579,186.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $560.23, for a total transaction of $857,151.90. Following the transaction, the executive vice president now owns 20,359 shares of the company’s stock, valued at $11,405,722.57. The disclosure for this sale can be found here. Insiders have sold a total of 27,523 shares of company stock worth $14,994,277 in the last 90 days. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ADBE shares. Robert W. Baird lifted their target price on Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. Sanford C. Bernstein boosted their price target on Adobe from $653.00 to $660.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Mizuho reissued a “buy” rating and issued a $640.00 price objective (down previously from $680.00) on shares of Adobe in a report on Friday, June 7th. Evercore ISI restated an “outperform” rating and set a $650.00 target price on shares of Adobe in a report on Friday, June 7th. Finally, BMO Capital Markets increased their price target on shares of Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $605.52.

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.