Adobe Inc. (NASDAQ:ADBE) Shares Sold by Leo Wealth LLC

Leo Wealth LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,131 shares of the software company’s stock after selling 102 shares during the quarter. Leo Wealth LLC’s holdings in Adobe were worth $503,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Onyx Bridge Wealth Group LLC boosted its position in Adobe by 4.0% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock valued at $272,000 after buying an additional 20 shares during the last quarter. Connable Office Inc. boosted its holdings in Adobe by 0.5% in the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after purchasing an additional 20 shares during the last quarter. 1ST Source Bank grew its stake in Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after purchasing an additional 20 shares in the last quarter. James J. Burns & Company LLC increased its holdings in Adobe by 5.6% during the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock worth $215,000 after purchasing an additional 22 shares during the last quarter. Finally, Holistic Financial Partners raised its position in shares of Adobe by 6.0% in the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock valued at $200,000 after purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Oppenheimer decreased their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and reduced their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Finally, Stifel Nicolaus cut their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $573.00.

Adobe Trading Down 0.5 %

Shares of ADBE stock opened at $433.07 on Friday. The firm has a market capitalization of $188.52 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $628.07. The stock has a fifty day moving average of $455.58 and a two-hundred day moving average of $500.48.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $3.52 EPS. As a group, research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.