WD Rutherford LLC Purchases 478 Shares of Adobe Inc. (NASDAQ:ADBE)

WD Rutherford LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.1% in the fourth quarter, HoldingsChannel reports. The firm owned 8,317 shares of the software company’s stock after purchasing an additional 478 shares during the quarter. Adobe accounts for 1.8% of WD Rutherford LLC’s portfolio, making the stock its 24th largest position. WD Rutherford LLC’s holdings in Adobe were worth $3,698,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of Adobe in the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in Adobe in the third quarter worth $30,000. True Wealth Design LLC boosted its stake in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the period. Briaud Financial Planning Inc bought a new position in Adobe during the third quarter valued at $36,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Adobe in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total value 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. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Performance

Shares of Adobe stock opened at $460.16 on Friday. Adobe Inc. has a one year low of $403.75 and a one year high of $607.32. The company has a market capitalization of $200.31 billion, a PE ratio of 37.11, a P/E/G ratio of 2.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50-day simple moving average of $446.56 and a two-hundred day simple moving average of $496.88.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating 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 company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the company posted $3.52 earnings per share. Adobe’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ADBE shares. Citigroup cut their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $590.00 target price on shares of Adobe in a research note on Thursday. Piper Sandler decreased their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Oppenheimer cut their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Stifel Nicolaus decreased their target price on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average price target 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.