Cordatus Wealth Management LLC Acquires 120 Shares of Adobe Inc. (NASDAQ:ADBE)

Cordatus Wealth Management LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,011 shares of the software company’s stock after purchasing an additional 120 shares during the period. Adobe makes up 1.7% of Cordatus Wealth Management LLC’s portfolio, making the stock its 15th largest position. Cordatus Wealth Management LLC’s holdings in Adobe were worth $4,666,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Teamwork Financial Advisors LLC increased its position in shares of Adobe by 90.8% during the first quarter. Teamwork Financial Advisors LLC now owns 929 shares of the software company’s stock valued at $469,000 after buying an additional 442 shares during the period. Everett Harris & Co. CA grew its position in Adobe by 173.2% in the 1st quarter. Everett Harris & Co. CA now owns 2,106 shares of the software company’s stock worth $1,063,000 after purchasing an additional 1,335 shares during the period. FORVIS Wealth Advisors LLC lifted its holdings in Adobe by 27.3% in the first quarter. FORVIS Wealth Advisors LLC now owns 5,603 shares of the software company’s stock valued at $2,827,000 after acquiring an additional 1,202 shares during the period. J.W. Cole Advisors Inc. lifted its stake in shares of Adobe by 7.0% in the 1st quarter. J.W. Cole Advisors Inc. now owns 4,135 shares of the software company’s stock worth $2,083,000 after purchasing an additional 270 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Adobe by 0.9% during the 1st quarter. Private Advisor Group LLC now owns 22,946 shares of the software company’s stock worth $11,579,000 after acquiring an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock traded down $8.73 during trading hours on Thursday, hitting $477.95. 769,362 shares of the company’s stock were exchanged, compared to its average volume of 3,166,938. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market cap of $211.92 billion, a P/E ratio of 43.31, a P/E/G ratio of 2.55 and a beta of 1.29. The firm has a 50 day moving average of $525.27 and a two-hundred day moving average of $515.81. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25.

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

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’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 in the company, valued at approximately $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,511 shares of company stock valued at $17,408,530 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of analyst reports. Sanford C. Bernstein reduced their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. UBS Group lowered their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Piper Sandler reiterated an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research report on Friday, September 13th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $606.40.

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.