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

Exencial Wealth Advisors LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,339 shares of the software company’s stock after selling 1,390 shares during the period. Exencial Wealth Advisors LLC’s holdings in Adobe were worth $10,823,000 as of its most recent SEC filing.

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

Insider Transactions at Adobe

In related news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADBE. Redburn Atlantic started coverage on Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a report on Wednesday, January 15th. Stifel Nicolaus cut their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Barclays reduced their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $590.00 price objective on shares of Adobe in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $570.88.

Adobe Trading Up 0.5 %

Shares of NASDAQ ADBE opened at $440.72 on Tuesday. The stock has a market capitalization of $191.85 billion, a P/E ratio of 35.54, a PEG ratio of 2.15 and a beta of 1.31. The stock’s 50 day moving average price is $439.59 and its two-hundred day moving average price is $489.79. 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 Inc. has a 52-week low of $403.75 and a 52-week high of $587.75.

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

Adobe 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.