Roberts Wealth Advisors LLC Increases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Roberts Wealth Advisors LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE – Get Rating) by 52.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,490 shares of the software company’s stock after buying an additional 2,236 shares during the quarter. Roberts Wealth Advisors LLC’s holdings in Adobe were worth $2,187,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Aries Wealth Management boosted its stake in shares of Adobe by 24.9% in the third quarter. Aries Wealth Management now owns 747 shares of the software company’s stock valued at $238,000 after buying an additional 149 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Adobe by 9.3% in the third quarter. Integrated Investment Consultants LLC now owns 881 shares of the software company’s stock valued at $242,000 after buying an additional 75 shares in the last quarter. US Bancorp DE boosted its stake in shares of Adobe by 8.3% in the third quarter. US Bancorp DE now owns 166,196 shares of the software company’s stock valued at $45,737,000 after buying an additional 12,676 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Adobe by 57.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,323,561 shares of the software company’s stock valued at $364,245,000 after buying an additional 482,400 shares in the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in Adobe during the third quarter worth $225,000. 79.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Adobe news, EVP Dana Rao sold 5,018 shares of the company’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $336.93, for a total transaction of $1,690,714.74. Following the completion of the sale, the executive vice president now directly owns 14,832 shares in the company, valued at $4,997,345.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Dana Rao sold 5,018 shares of the company’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $336.93, for a total value of $1,690,714.74. Following the completion of the sale, the executive vice president now owns 14,832 shares of the company’s stock, valued at $4,997,345.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 132 shares of the company’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $338.00, for a total value of $44,616.00. Following the completion of the sale, the chief accounting officer now directly owns 3,271 shares of the company’s stock, valued at approximately $1,105,598. The disclosure for this sale can be found here. Insiders sold 26,265 shares of company stock worth $9,067,344 over the last three months. 0.24% of the stock is owned by insiders.

Adobe Trading Up 1.4 %

NASDAQ:ADBE traded up $4.85 on Friday, hitting $358.14. 6,725,352 shares of the stock were exchanged, compared to its average volume of 3,046,425. The stock has a market cap of $164.24 billion, a PE ratio of 35.46, a PEG ratio of 2.08 and a beta of 1.27. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average of $353.24 and a 200-day moving average of $334.18. Adobe Inc. has a fifty-two week low of $274.73 and a fifty-two week high of $473.49.

Adobe (NASDAQ:ADBE – Get Rating) last announced its quarterly earnings results on Wednesday, March 15th. The software company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.68 by $0.12. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.62 billion. Adobe had a return on equity of 36.74% and a net margin of 27.01%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.84 earnings per share. As a group, equities analysts expect that Adobe Inc. will post 12.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of research analyst reports. Wolfe Research decreased their target price on Adobe from $440.00 to $420.00 in a research report on Thursday. William Blair initiated coverage on Adobe in a research report on Tuesday, January 17th. They set an “outperform” rating on the stock. Morgan Stanley boosted their target price on Adobe from $382.00 to $385.00 and gave the stock an “equal weight” rating in a research report on Thursday. Credit Suisse Group boosted their target price on Adobe from $325.00 to $350.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, UBS Group boosted their target price on Adobe from $350.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Sixteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $415.70.

About Adobe

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Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.