Capitol Family Office Inc. Sells 99 Shares of Adobe Inc. (NASDAQ:ADBE)

Capitol Family Office Inc. cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,025 shares of the software company’s stock after selling 99 shares during the quarter. Adobe makes up 1.9% of Capitol Family Office Inc.’s investment portfolio, making the stock its 10th largest position. Capitol Family Office Inc.’s holdings in Adobe were worth $1,566,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Onyx Bridge Wealth Group LLC boosted its position in Adobe by 3.9% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock valued at $281,000 after buying an additional 19 shares during the last quarter. HTLF Bank boosted its position in shares of Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after purchasing an additional 19 shares during the last quarter. Commonwealth Financial Services LLC increased its holdings in Adobe by 3.7% in the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after purchasing an additional 19 shares during the last quarter. Orrstown Financial Services Inc. increased its holdings in Adobe by 0.9% in the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after purchasing an additional 20 shares during the last quarter. Finally, Orser Capital Management LLC boosted its holdings in Adobe by 0.3% during the second quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Morgan Stanley reissued an “overweight” rating and issued a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Oppenheimer reissued an “outperform” rating and issued a $625.00 target price on shares of Adobe in a research note on Friday, September 13th. Stifel Nicolaus raised their target price on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $610.00 price objective on shares of Adobe in a research report on Tuesday, October 15th. Two equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Adobe news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,187 shares of company stock worth $17,736,369. Company insiders own 0.15% of the company’s stock.

Adobe Trading Up 1.0 %

Shares of NASDAQ:ADBE opened at $482.80 on Monday. The stock has a market cap of $212.53 billion, a PE ratio of 40.78, a P/E/G ratio of 2.46 and a beta of 1.30. 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 12-month low of $433.97 and a 12-month high of $638.25. The business has a 50 day moving average of $522.17 and a 200-day moving average of $516.20.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $3.26 earnings per share. As a group, equities research analysts forecast that Adobe Inc. will post 14.82 earnings per share for the current year.

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.