Xponance Inc. Buys 1,409 Shares of Adobe Inc. (NASDAQ:ADBE)

Xponance Inc. raised its stake in Adobe Inc. (NASDAQ:ADBE) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,895 shares of the software company’s stock after acquiring an additional 1,409 shares during the period. Adobe makes up 0.6% of Xponance Inc.’s portfolio, making the stock its 22nd biggest position. Xponance Inc.’s holdings in Adobe were worth $60,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ADBE. Concentrum Wealth Management lifted its stake in shares of Adobe by 11.3% in the fourth quarter. Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock worth $1,435,194,000 after buying an additional 244,008 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in shares of Adobe by 5.9% in the 4th quarter. Aveo Capital Partners LLC now owns 932 shares of the software company’s stock worth $556,000 after purchasing an additional 52 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Adobe by 22.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,561 shares of the software company’s stock worth $2,066,000 after purchasing an additional 658 shares during the last quarter. TrinityPoint Wealth LLC lifted its holdings in shares of Adobe by 3.0% during the fourth quarter. TrinityPoint Wealth LLC now owns 1,097 shares of the software company’s stock valued at $654,000 after purchasing an additional 32 shares in the last quarter. Finally, MUFG Securities EMEA plc boosted its position in shares of Adobe by 3,533.6% during the fourth quarter. MUFG Securities EMEA plc now owns 31,358 shares of the software company’s stock valued at $18,708,000 after buying an additional 30,495 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.8 %

Shares of Adobe stock opened at $522.30 on Monday. The firm has a market cap of $231.59 billion, a price-to-earnings ratio of 46.93, a PEG ratio of 3.03 and a beta of 1.29. The business has a 50-day moving average price of $549.18 and a 200-day moving average price of $518.37. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $3.26 earnings per share. Adobe’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on ADBE. Piper Sandler reissued an “overweight” rating and set a $635.00 price objective on shares of Adobe in a report on Friday, September 13th. Melius Research reiterated a “hold” rating and issued a $510.00 price objective on shares of Adobe in a research note on Monday, June 10th. Sanford C. Bernstein cut their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Bank of America reaffirmed a “buy” rating and set a $640.00 target price on shares of Adobe in a report on Friday, September 13th. Finally, Evercore ISI reissued an “outperform” rating and set a $650.00 price objective on shares of Adobe in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $606.40.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,759 shares of company stock worth $18,205,903. Corporate insiders own 0.15% of the company’s stock.

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.