Werba Rubin Papier Wealth Management Buys 39 Shares of Adobe Inc. (NASDAQ:ADBE)

Werba Rubin Papier Wealth Management grew its stake in Adobe Inc. (NASDAQ:ADBE) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,208 shares of the software company’s stock after acquiring an additional 39 shares during the period. Werba Rubin Papier Wealth Management’s holdings in Adobe were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ADBE. Schaper Benz & Wise Investment Counsel Inc. WI raised its position in Adobe by 4.5% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 69,578 shares of the software company’s stock worth $36,026,000 after purchasing an additional 3,001 shares during the last quarter. Cedrus LLC boosted its stake in Adobe by 5.1% in the third quarter. Cedrus LLC now owns 776 shares of the software company’s stock valued at $402,000 after acquiring an additional 38 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Adobe by 12.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 3,861 shares of the software company’s stock worth $1,999,000 after acquiring an additional 441 shares during the period. Veracity Capital LLC increased its holdings in Adobe by 5.6% in the third quarter. Veracity Capital LLC now owns 1,213 shares of the software company’s stock valued at $628,000 after purchasing an additional 64 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC increased its stake in shares of Adobe by 2.9% in the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 2,437 shares of the software company’s stock valued at $1,262,000 after acquiring an additional 69 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the sale, the executive vice president now directly owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,608 shares of company stock worth $17,486,391. Company insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $494.90 on Friday. The stock has a market cap of $219.44 billion, a P/E ratio of 44.47, a P/E/G ratio of 2.55 and a beta of 1.29. The company has a fifty day moving average price of $535.45 and a two-hundred day moving average price of $515.78. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. Adobe’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $3.26 EPS. As a group, equities analysts predict that Adobe Inc. will post 14.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ADBE shares. Bank of America reissued a “buy” rating and set a $640.00 price target on shares of Adobe in a research report on Friday, September 13th. Piper Sandler reissued an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research note on Friday, September 13th. Citigroup raised their price target on Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, UBS Group reduced their price target on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

About Adobe

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.