Signal Advisors Wealth LLC Has $1.88 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Signal Advisors Wealth LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 13.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,224 shares of the software company’s stock after buying an additional 497 shares during the period. Signal Advisors Wealth LLC’s holdings in Adobe were worth $1,878,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in Adobe by 66,909.7% in the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after acquiring an additional 1,376,333 shares during the last quarter. Longview Partners Guernsey LTD bought a new stake in Adobe in the 2nd quarter valued at $663,745,000. FMR LLC increased its position in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Adobe by 982.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after purchasing an additional 491,627 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Adobe in the 3rd quarter valued at about $126,703,000. 81.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,763 shares of company stock worth $893,665. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $408.50 on Tuesday. The firm has a market capitalization of $179.82 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.51 and a beta of 1.31. The firm’s 50-day moving average price is $482.55 and its 200-day moving average price is $516.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.52 earnings per share. Equities research analysts anticipate that Adobe Inc. will post 16.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the subject of a number of analyst reports. Oppenheimer dropped their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Barclays cut their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Sanford C. Bernstein decreased their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Piper Sandler dropped their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Finally, Stifel Nicolaus reduced their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $575.85.

Adobe Company 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.