Koshinski Asset Management Inc. Has $1.17 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Koshinski Asset Management Inc. lowered its holdings in Adobe Inc. (NASDAQ:ADBEGet Rating) by 35.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,207 shares of the software company’s stock after selling 1,732 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Adobe were worth $1,174,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADBE. Oliver Lagore Vanvalin Investment Group acquired a new position in Adobe in the first quarter worth $31,000. Delos Wealth Advisors LLC lifted its stake in shares of Adobe by 169.6% during the fourth quarter. Delos Wealth Advisors LLC now owns 62 shares of the software company’s stock valued at $35,000 after acquiring an additional 39 shares during the period. Ulland Investment Advisors LLC lifted its stake in shares of Adobe by 60.0% during the first quarter. Ulland Investment Advisors LLC now owns 80 shares of the software company’s stock valued at $36,000 after acquiring an additional 30 shares during the period. Creative Financial Designs Inc. ADV lifted its stake in shares of Adobe by 62.3% during the first quarter. Creative Financial Designs Inc. ADV now owns 86 shares of the software company’s stock valued at $39,000 after acquiring an additional 33 shares during the period. Finally, Steward Financial Group LLC lifted its stake in shares of Adobe by 770.0% during the first quarter. Steward Financial Group LLC now owns 87 shares of the software company’s stock valued at $39,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 80.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADBE. Wells Fargo & Company lowered Adobe from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $425.00 to $310.00 in a research note on Monday. Robert W. Baird lowered Adobe from an “outperform” rating to a “neutral” rating and cut their price target for the company from $450.00 to $355.00 in a research note on Friday, September 16th. Citigroup upped their price target on Adobe from $380.00 to $388.00 and gave the company a “neutral” rating in a research note on Thursday, September 15th. Oppenheimer downgraded Adobe from an “outperform” rating to a “market perform” rating in a report on Thursday, September 15th. Finally, StockNews.com downgraded Adobe from a “buy” rating to a “hold” rating in a report on Thursday, September 15th. Sixteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $429.92.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $286.30 on Thursday. The stock has a 50 day moving average price of $391.67 and a 200 day moving average price of $404.69. Adobe Inc. has a 52 week low of $286.22 and a 52 week high of $699.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.07 and a current ratio of 1.14. The stock has a market capitalization of $133.99 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14.

Adobe (NASDAQ:ADBEGet Rating) last issued its quarterly earnings results on Thursday, September 15th. The software company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.33 by $0.07. Adobe had a return on equity of 36.49% and a net margin of 28.00%. The firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the firm posted $2.65 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. Analysts predict that Adobe Inc. will post 11.02 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Scott Belsky sold 2,711 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $393.58, for a total value of $1,066,995.38. Following the completion of the sale, the executive vice president now directly owns 26,089 shares of the company’s stock, valued at $10,268,108.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Mark S. Garfield sold 132 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $409.75, for a total transaction of $54,087.00. Following the transaction, the chief accounting officer now owns 2,465 shares in the company, valued at $1,010,033.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott Belsky sold 2,711 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $393.58, for a total value of $1,066,995.38. Following the transaction, the executive vice president now owns 26,089 shares in the company, valued at approximately $10,268,108.62. The disclosure for this sale can be found here. Insiders sold a total of 3,769 shares of company stock valued at $1,477,562 over the last three months. Insiders own 0.23% of the company’s stock.

About Adobe

(Get Rating)

Adobe Inc 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.

Featured Stories

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.