Wealthspire Advisors LLC Has $1.69 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Wealthspire Advisors LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,805 shares of the software company’s stock after selling 250 shares during the period. Wealthspire Advisors LLC’s holdings in Adobe were worth $1,692,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of 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. Assenagon Asset Management S.A. lifted its holdings in Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after purchasing an additional 347,536 shares during the last quarter. Seilern Investment Management Ltd bought a new stake in Adobe in the 4th quarter valued at $110,744,000. Erste Asset Management GmbH acquired a new position in Adobe in the 3rd quarter valued at $126,703,000. Finally, State Street Corp increased its position in Adobe by 1.2% during the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after buying an additional 234,909 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,681 shares of company stock valued at $2,525,126. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 0.0 %

NASDAQ ADBE opened at $444.42 on Tuesday. The stock has a market capitalization of $193.46 billion, a P/E ratio of 35.84, a P/E/G ratio of 2.20 and a beta of 1.31. The business has a 50 day simple moving average of $440.12 and a 200 day simple moving average of $493.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the firm posted $3.52 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ADBE shares. Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a report on Wednesday, January 15th. Bank of America dropped their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Mizuho reduced their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $570.88.

Adobe 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.