RBA Wealth Management LLC Has $4.89 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

RBA Wealth Management LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,988 shares of the software company’s stock after acquiring an additional 82 shares during the quarter. Adobe makes up 1.9% of RBA Wealth Management LLC’s holdings, making the stock its 21st biggest holding. RBA Wealth Management LLC’s holdings in Adobe were worth $4,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Czech National Bank increased its position in shares of Adobe by 5.8% during the third quarter. Czech National Bank now owns 90,325 shares of the software company’s stock valued at $46,768,000 after buying an additional 4,954 shares during the period. GAMMA Investing LLC lifted its position in Adobe by 28.0% during the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after purchasing an additional 1,412 shares during the period. Diversified Trust Co raised its holdings in Adobe by 10.8% in the 3rd quarter. Diversified Trust Co now owns 6,446 shares of the software company’s stock valued at $3,338,000 after acquiring an additional 630 shares during the last quarter. Smith Anglin Financial LLC grew its position in Adobe by 6.1% in the 3rd quarter. Smith Anglin Financial LLC now owns 657 shares of the software company’s stock valued at $340,000 after acquiring an additional 38 shares in the last quarter. Finally, Consilio Wealth Advisors LLC lifted its position in Adobe by 15.9% in the third quarter. Consilio Wealth Advisors LLC now owns 539 shares of the software company’s stock valued at $279,000 after acquiring an additional 74 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 0.3 %

Shares of NASDAQ:ADBE opened at $438.60 on Tuesday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $634.59. The business’s fifty day simple moving average is $461.97 and its 200-day simple moving average is $502.99. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $190.92 billion, a PE ratio of 35.37, a P/E/G ratio of 2.12 and a beta of 1.31.

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

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group dropped their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BMO Capital Markets reduced their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Sanford C. Bernstein lowered their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Bank of America dropped their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,681 shares of company stock valued at $2,525,126. Corporate insiders own 0.15% of the company’s stock.

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.