WR Wealth Planners LLC Cuts Holdings in Adobe Inc. (NASDAQ:ADBE)

WR Wealth Planners LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,576 shares of the software company’s stock after selling 219 shares during the period. WR Wealth Planners LLC’s holdings in Adobe were worth $701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in Adobe in the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Adobe in the 3rd quarter worth approximately $30,000. True Wealth Design LLC grew its stake in 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 buying an additional 34 shares in the last quarter. Briaud Financial Planning Inc bought a new stake in shares of Adobe in the 3rd quarter worth approximately $36,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Adobe in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ADBE shares. Stifel Nicolaus lowered their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Barclays lowered their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Sanford C. Bernstein lowered their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Wells Fargo & Company lowered their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Adobe Stock Up 0.3 %

Shares of Adobe stock opened at $438.49 on Friday. 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 company has a 50-day moving average of $439.71 and a 200 day moving average of $491.24. The firm has a market cap of $190.87 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $3.52 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of the firm’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 directly owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now owns 4,984 shares in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 in the last three months. 0.15% of the stock is owned by corporate insiders.

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.