Compton Wealth Advisory Group LLC Sells 112 Shares of Adobe Inc. (NASDAQ:ADBE)

Compton Wealth Advisory Group LLC decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,155 shares of the software company’s stock after selling 112 shares during the quarter. Compton Wealth Advisory Group LLC’s holdings in Adobe were worth $2,292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new stake in Adobe during the 3rd quarter valued at $26,000. Piscataqua Savings Bank lifted its position in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe during the third quarter worth $30,000. True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Adobe in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE traded up $3.01 during mid-day trading on Monday, hitting $408.93. 1,590,894 shares of the company were exchanged, compared to its average volume of 3,805,690. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25. The company has a 50 day moving average of $484.01 and a 200-day moving average of $517.00. 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 stock has a market cap of $180.01 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.52 earnings per share. Analysts expect that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ADBE shares. Stifel Nicolaus decreased their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Citigroup lowered their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Oppenheimer cut their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group lowered their price objective on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Piper Sandler cut their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $575.85.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,293 shares of company stock worth $1,679,809 in the last ninety days. Insiders own 0.15% of the company’s stock.

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.