WBH Advisory Inc. Decreases Stake in Adobe Inc. (NASDAQ:ADBE)

WBH Advisory Inc. lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 451 shares of the software company’s stock after selling 35 shares during the quarter. WBH Advisory Inc.’s holdings in Adobe were worth $201,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Adobe by 1.2% during the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after buying an additional 234,909 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock valued at $5,435,377,000 after buying an additional 147,981 shares during the last quarter. FMR LLC boosted its stake in shares of Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Adobe by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after buying an additional 93,143 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Adobe by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock valued at $2,455,079,000 after buying an additional 140,390 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Trading Up 0.2 %

Shares of ADBE stock opened at $460.16 on Tuesday. The stock has a 50-day simple moving average of $446.56 and a 200 day simple moving average of $496.20. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $607.32. The stock has a market capitalization of $200.31 billion, a P/E ratio of 37.11, a P/E/G ratio of 2.11 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

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

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. BMO Capital Markets dropped their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Piper Sandler dropped their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Stifel Nicolaus dropped their price target on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price target on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.