Etesian Wealth Advisors Inc. Sells 39 Shares of Adobe Inc. (NASDAQ:ADBE)

Etesian Wealth Advisors Inc. decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,380 shares of the software company’s stock after selling 39 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Adobe were worth $715,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Piscataqua Savings Bank boosted its holdings in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Tradewinds Capital Management LLC increased its stake in Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe in the 2nd quarter worth approximately $33,000. Finally, Lynx Investment Advisory bought a new stake in Adobe in the second quarter worth $39,000. 81.79% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,608 shares of company stock valued at $17,486,391. 0.15% of the stock is currently owned by insiders.

Adobe Trading Down 0.4 %

Shares of ADBE traded down $1.93 during trading hours on Friday, reaching $494.90. The stock had a trading volume of 2,011,121 shares, compared to its average volume of 3,216,828. The firm has a 50-day moving average of $535.45 and a 200 day moving average of $515.67. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The company has a market cap of $219.44 billion, a P/E ratio of 44.47, a P/E/G ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) 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 business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the business posted $3.26 EPS. Adobe’s revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research note on Friday, September 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a research note on Tuesday. Barclays raised their price objective on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Sanford C. Bernstein reduced their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Finally, Morgan Stanley restated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $606.40.

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.