Adobe Inc. (NASDAQ:ADBE) Shares Sold by Aries Wealth Management

Aries Wealth Management lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,235 shares of the software company’s stock after selling 30 shares during the period. Aries Wealth Management’s holdings in Adobe were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional grew its stake in shares of Adobe by 4.2% during the third quarter. CX Institutional now owns 2,298 shares of the software company’s stock worth $1,190,000 after purchasing an additional 93 shares in the last quarter. Creative Planning lifted its holdings in Adobe by 34.9% during the 3rd quarter. Creative Planning now owns 165,167 shares of the software company’s stock worth $84,750,000 after buying an additional 42,736 shares during the last quarter. Swedbank AB boosted its position in shares of Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after acquiring an additional 3,739 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Adobe by 5.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,645 shares of the software company’s stock valued at $852,000 after acquiring an additional 88 shares during the last quarter. Finally, Wolff Wiese Magana LLC raised its position in shares of Adobe by 3.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,155 shares of the software company’s stock worth $598,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks purchased 2,250 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the acquisition, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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.

Adobe Stock Performance

Shares of ADBE stock opened at $459.22 on Friday. The stock has a fifty day moving average price of $449.99 and a 200 day moving average price of $497.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $199.90 billion, a PE ratio of 37.03, a P/E/G ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $610.33.

Adobe (NASDAQ:ADBE) last released 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 business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.52 EPS. Sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $590.00 price target on shares of Adobe in a research note on Thursday. DA Davidson dropped their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Oppenheimer cut their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Citigroup cut their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

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.