San Luis Wealth Advisors LLC Decreases Stock Position in Adobe Inc. (NASDAQ:ADBE)

San Luis Wealth Advisors LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,194 shares of the software company’s stock after selling 186 shares during the period. San Luis Wealth Advisors LLC’s holdings in Adobe were worth $3,143,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Siemens Fonds Invest GmbH grew its stake in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after purchasing an additional 39,888 shares during the last quarter. SWAN Capital LLC bought a new stake in shares of Adobe in the fourth quarter worth about $28,000. Copia Wealth Management bought a new stake in shares of Adobe in the fourth quarter worth about $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe in the fourth quarter worth about $31,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Adobe in the fourth quarter worth about $36,000. 81.79% of the stock is owned by institutional investors.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Adobe Price Performance

Shares of ADBE opened at $401.73 on Tuesday. The firm has a market cap of $171.22 billion, a PE ratio of 32.40, a P/E/G ratio of 2.15 and a beta of 1.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $388.00 and a two-hundred day simple moving average of $419.64. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75.

Analysts Set New Price Targets

Several research analysts have commented on ADBE shares. Evercore ISI restated an “outperform” rating and issued a $475.00 price objective on shares of Adobe in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. Morgan Stanley dropped their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird boosted their price target on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Oppenheimer dropped their price target on Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Friday. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $494.67.

Adobe 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.