One Wealth Management Investment & Advisory Services LLC Sells 60 Shares of Adobe Inc. (NASDAQ:ADBE)

One Wealth Management Investment & Advisory Services LLC lowered its position in Adobe Inc. (NASDAQ:ADBE) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,028 shares of the software company’s stock after selling 60 shares during the period. Adobe comprises 0.7% of One Wealth Management Investment & Advisory Services LLC’s holdings, making the stock its 27th largest position. One Wealth Management Investment & Advisory Services LLC’s holdings in Adobe were worth $1,682,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADBE. Tradewinds Capital Management LLC raised its holdings in Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after buying an additional 40 shares during the period. Salomon & Ludwin LLC grew its stake in Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after purchasing an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe during the 2nd quarter worth approximately $33,000. Steph & Co. grew its position in shares of Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. Finally, Lynx Investment Advisory bought a new position in Adobe during the second quarter worth about $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE traded down $4.52 on Friday, hitting $563.41. 2,096,790 shares of the company’s stock were exchanged, compared to its average volume of 3,173,966. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The stock has a 50-day moving average of $553.72 and a 200-day moving average of $519.38. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. The stock 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 1.30.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.39 by $0.09. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. Adobe’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $3.04 earnings per share. Analysts expect that Adobe Inc. will post 14.69 earnings per share for the current year.

Insider Activity at Adobe

In other Adobe news, CAO Mark S. Garfield sold 264 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $525.51, for a total value of $138,734.64. Following the sale, the chief accounting officer now owns 2,740 shares in the company, valued at $1,439,897.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the completion of the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the sale, the chief accounting officer now owns 2,740 shares in the company, valued at $1,439,897.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,523 shares of company stock valued at $14,994,277. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADBE shares. Barclays raised their price objective on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, June 14th. Robert W. Baird raised their target price on shares of Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $600.00 price target on shares of Adobe in a report on Thursday, August 1st. Finally, Sanford C. Bernstein boosted their price objective on Adobe from $653.00 to $660.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $605.52.

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.