Adobe Inc. (NASDAQ:ADBE) Shares Sold by Alliance Wealth Advisors LLC UT

Alliance Wealth Advisors LLC UT lessened its position in Adobe Inc. (NASDAQ:ADBE) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,637 shares of the software company’s stock after selling 619 shares during the period. Adobe makes up 1.0% of Alliance Wealth Advisors LLC UT’s portfolio, making the stock its 24th biggest position. Alliance Wealth Advisors LLC UT’s holdings in Adobe were worth $3,841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Czech National Bank grew its position in Adobe by 5.8% in the third quarter. Czech National Bank now owns 90,325 shares of the software company’s stock worth $46,768,000 after acquiring an additional 4,954 shares in the last quarter. GAMMA Investing LLC lifted its position in Adobe by 28.0% during the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after buying an additional 1,412 shares in the last quarter. Diversified Trust Co boosted its holdings in Adobe by 10.8% in the third 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 shares of Adobe by 6.1% during the 3rd quarter. Smith Anglin Financial LLC now owns 657 shares of the software company’s stock worth $340,000 after buying an additional 38 shares during the period. Finally, Consilio Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 74 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADBE. Barclays reduced their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and dropped their price target for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. UBS Group reduced their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Mizuho decreased their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average price target of $573.00.

Insider Activity

In related news, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

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 firm has a market capitalization of $190.92 billion, a P/E ratio of 35.37, a P/E/G ratio of 2.12 and a beta of 1.31. 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’s fifty day moving average price is $461.97 and its 200 day moving average price is $502.99.

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

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.