Stableford Capital II LLC Sells 32 Shares of Adobe Inc. (NASDAQ:ADBE)

Stableford Capital II LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,740 shares of the software company’s stock after selling 32 shares during the period. Stableford Capital II LLC’s holdings in Adobe were worth $1,218,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ADBE. Abundance Wealth Counselors grew its position in Adobe by 8.7% in the 4th quarter. Abundance Wealth Counselors now owns 2,259 shares of the software company’s stock worth $1,005,000 after purchasing an additional 181 shares in the last quarter. Independence Bank of Kentucky boosted its stake in shares of Adobe by 50.3% in the 4th quarter. Independence Bank of Kentucky now owns 4,324 shares of the software company’s stock worth $1,923,000 after buying an additional 1,447 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in shares of Adobe by 27.2% in the fourth quarter. Evermay Wealth Management LLC now owns 1,308 shares of the software company’s stock valued at $582,000 after acquiring an additional 280 shares in the last quarter. KG&L Capital Management LLC increased its position in shares of Adobe by 79.7% during the fourth quarter. KG&L Capital Management LLC now owns 2,616 shares of the software company’s stock valued at $1,163,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Dohj LLC lifted its holdings in Adobe by 1.9% during the fourth quarter. Dohj LLC now owns 6,305 shares of the software company’s stock worth $2,804,000 after acquiring an additional 115 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $437.45 on Friday. The stock’s 50-day simple moving average is $461.97 and its two-hundred day simple moving average is $503.85. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The firm has a market capitalization of $190.42 billion, a P/E ratio of 35.28, a P/E/G ratio of 2.14 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 for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the business earned $3.52 earnings per share. Adobe’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on ADBE shares. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Piper Sandler reduced their price target on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Citigroup lowered their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, Stifel Nicolaus decreased their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is currently owned by corporate insiders.

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.