WealthPLAN Partners LLC Has $2.01 Million Stake in Adobe Inc. (NASDAQ:ADBE)

WealthPLAN Partners LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,524 shares of the software company’s stock after selling 475 shares during the period. WealthPLAN Partners LLC’s holdings in Adobe were worth $2,012,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in Adobe in the third quarter valued at approximately $26,000. Groupama Asset Managment raised its position in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after acquiring an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe in the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its position in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the fourth quarter worth $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent analyst reports. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and reduced their target price for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Oppenheimer cut their target price on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Barclays dropped their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $573.00.

Adobe Price Performance

Shares of ADBE opened at $460.16 on Friday. The company’s 50-day moving average is $448.41 and its 200-day moving average is $497.41. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $200.31 billion, a PE ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $607.32.

Adobe (NASDAQ:ADBE) last released its quarterly 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 net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the firm earned $3.52 EPS. The business’s revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were 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 owns 22,153 shares of the company’s stock, valued at $9,687,063.84. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 in the last ninety days. 0.15% of the stock is owned by company insiders.

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.