M Holdings Securities Inc. Has $406,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

M Holdings Securities Inc. reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE – Get Rating) by 21.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,476 shares of the software company’s stock after selling 393 shares during the period. M Holdings Securities Inc.’s holdings in Adobe were worth $406,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Whalerock Point Partners LLC raised its holdings in Adobe by 6.8% during the 3rd quarter. Whalerock Point Partners LLC now owns 864 shares of the software company’s stock worth $238,000 after buying an additional 55 shares during the period. Tealwood Asset Management Inc. raised its holdings in shares of Adobe by 90.6% in the third quarter. Tealwood Asset Management Inc. now owns 5,604 shares of the software company’s stock valued at $1,542,000 after purchasing an additional 2,664 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Adobe by 50.6% in the third quarter. Glenmede Trust Co. NA now owns 201,960 shares of the software company’s stock valued at $55,578,000 after purchasing an additional 67,828 shares during the last quarter. LWM Advisory Services LLC raised its holdings in shares of Adobe by 4.3% in the third quarter. LWM Advisory Services LLC now owns 805 shares of the software company’s stock valued at $256,000 after purchasing an additional 33 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Adobe by 6.8% in the third quarter. Captrust Financial Advisors now owns 176,863 shares of the software company’s stock valued at $48,673,000 after purchasing an additional 11,191 shares during the last quarter. 79.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Adobe from $400.00 to $430.00 and gave the company a “buy” rating in a report on Friday, December 16th. DA Davidson initiated coverage on shares of Adobe in a report on Tuesday, January 17th. They issued a “neutral” rating and a $350.00 price objective on the stock. Wolfe Research upped their price target on shares of Adobe from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. UBS Group increased their price target on shares of Adobe from $350.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Finally, Evercore ISI boosted their price objective on shares of Adobe from $350.00 to $425.00 in a research note on Friday, December 16th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $418.56.

Adobe Stock Up 0.1 %

Shares of ADBE opened at $333.61 on Thursday. Adobe Inc. has a 12 month low of $274.73 and a 12 month high of $473.49. The firm’s 50 day moving average is $352.23 and its 200-day moving average is $334.17. The stock has a market capitalization of $152.99 billion, a PE ratio of 33.03, a P/E/G ratio of 2.06 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.

Adobe (NASDAQ:ADBE – Get Rating) last announced its 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. Adobe had a net margin of 27.01% and a return on equity of 36.74%. The company had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same period last year, the firm earned $2.84 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts forecast that Adobe Inc. will post 12.15 EPS for the current year.

Insider Transactions at Adobe

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

Adobe Company Profile

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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.