Unique Wealth LLC Purchases 387 Shares of Adobe Inc. (NASDAQ:ADBE)

Unique Wealth LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,913 shares of the software company’s stock after purchasing an additional 387 shares during the period. Unique Wealth LLC’s holdings in Adobe were worth $1,740,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ADBE. Commonwealth Financial Services LLC lifted its stake in shares of Adobe by 3.7% in the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after purchasing an additional 19 shares during the period. Onyx Bridge Wealth Group LLC raised its position in shares of Adobe by 4.0% during the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after purchasing an additional 20 shares during the period. Connable Office Inc. grew its position in Adobe by 0.5% in the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after purchasing an additional 20 shares during the period. 1ST Source Bank increased its stake in Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after purchasing an additional 20 shares in the last quarter. Finally, Sfmg LLC raised its holdings in Adobe by 3.1% during the second quarter. Sfmg LLC now owns 708 shares of the software company’s stock worth $393,000 after buying an additional 21 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Up 0.6 %

Shares of NASDAQ ADBE opened at $408.50 on Tuesday. The business has a 50-day simple moving average of $482.55 and a two-hundred day simple moving average of $516.02. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The company has a market cap of $179.82 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.51 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. Adobe’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.52 EPS. Research analysts anticipate that Adobe Inc. will post 16.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Scott Belsky sold 481 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was 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. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,763 shares of company stock worth $893,665 over the last ninety days. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and decreased their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Citigroup lowered their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Sanford C. Bernstein dropped their price objective on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Bank of America reduced their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average price target of $575.85.

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.