Adobe Inc. (NASDAQ:ADBE) Shares Bought by Aspiriant LLC

Aspiriant LLC grew its position in Adobe Inc. (NASDAQ:ADBE) by 7.1% during the first quarter, Holdings Channel.com reports. The firm owned 2,711 shares of the software company’s stock after acquiring an additional 179 shares during the period. Aspiriant LLC’s holdings in Adobe were worth $1,368,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Invst LLC grew its stake in shares of Adobe by 1.9% during the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after buying an additional 17 shares during the period. Raleigh Capital Management Inc. boosted its holdings in Adobe by 3.1% in the third quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock valued at $285,000 after acquiring an additional 17 shares during the last quarter. Lantz Financial LLC grew its position in Adobe by 2.5% during the fourth quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock valued at $411,000 after acquiring an additional 17 shares during the period. B & T Capital Management DBA Alpha Capital Management increased its stake in Adobe by 4.3% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock worth $249,000 after acquiring an additional 17 shares during the last quarter. Finally, Evolution Advisers Inc. increased its stake in Adobe by 14.3% during the fourth quarter. Evolution Advisers Inc. now owns 136 shares of the software company’s stock worth $79,000 after acquiring an additional 17 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $600.00 target price on shares of Adobe in a report on Friday, June 14th. BMO Capital Markets raised their target price on shares of Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Melius Research restated a “hold” rating and set a $510.00 target price on shares of Adobe in a report on Monday, June 10th. Piper Sandler Companies lowered their price target on Adobe from $705.00 to $700.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Finally, Melius lowered Adobe from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $607.67.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $546.76 on Friday. The company has a market cap of $244.95 billion, a PE ratio of 49.12, a P/E/G ratio of 2.75 and a beta of 1.27. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The firm has a 50-day simple moving average of $481.75 and a 200 day simple moving average of $535.99. The company has a quick ratio of 1.05, a current ratio of 1.16 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.39 by $0.09. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.04 earnings per share. On average, sell-side analysts anticipate that Adobe Inc. will post 14.69 EPS for the current year.

Adobe declared that its Board of Directors has initiated a share buyback plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the transaction, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,940,160. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $468.41, for a total transaction of $45,435.77. Following the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at approximately $1,933,596.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 96 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at $1,940,160. The disclosure for this sale can be found here. Insiders have sold 3,270 shares of company stock valued at $1,563,166 over the last three months. Company insiders own 0.15% of the company’s stock.

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.