Adobe Inc. (NASDAQ:ADBE) Shares Bought by AAFMAA Wealth Management & Trust LLC

AAFMAA Wealth Management & Trust LLC boosted its position in Adobe Inc. (NASDAQ:ADBE) by 11.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,877 shares of the software company’s stock after acquiring an additional 388 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Adobe were worth $1,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Redwood Wealth Management Group LLC boosted its position in shares of Adobe by 3.0% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 795 shares of the software company’s stock worth $442,000 after buying an additional 23 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Adobe by 21.3% in the second quarter. Brown Brothers Harriman & Co. now owns 445,458 shares of the software company’s stock valued at $247,470,000 after purchasing an additional 78,080 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in shares of Adobe in the second quarter valued at approximately $165,000. Angeles Investment Advisors LLC lifted its stake in Adobe by 62.0% in the 2nd quarter. Angeles Investment Advisors LLC now owns 2,526 shares of the software company’s stock valued at $1,403,000 after buying an additional 967 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Adobe by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock valued at $945,780,000 after buying an additional 185,737 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of ADBE stock opened at $408.50 on Tuesday. The firm has a fifty day simple moving average of $482.55 and a 200-day simple moving average of $516.02. The company has a market capitalization of $179.82 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. 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 (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the firm earned $3.52 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Adobe Inc. will post 16.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several recent research reports. Royal Bank of Canada reduced their price objective on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets reduced their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Mizuho lowered their price target on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Oppenheimer decreased their target price on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Stifel Nicolaus reduced their price target on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $575.85.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,763 shares of company stock worth $893,665 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

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.