2,377 Shares in Adobe Inc. (NASDAQ:ADBE) Acquired by One Wealth Capital Management LLC

One Wealth Capital Management LLC bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,377 shares of the software company’s stock, valued at approximately $1,057,000.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Adobe by 1.2% in the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after purchasing an additional 234,909 shares in the last quarter. Geode Capital Management LLC grew its holdings in Adobe by 1.4% during the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock valued at $5,435,377,000 after purchasing an additional 147,981 shares during the period. FMR LLC increased its position in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Adobe by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock worth $2,516,196,000 after buying an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Adobe by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock valued at $2,455,079,000 after buying an additional 140,390 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 2.3 %

Shares of ADBE traded down $9.86 during trading hours on Tuesday, reaching $421.32. 3,161,818 shares of the company traded hands, compared to its average volume of 3,733,981. The stock’s fifty day moving average price is $489.31 and its 200 day moving average price is $520.13. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market cap of $185.47 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.51 and a beta of 1.31. Adobe Inc. has a 12-month low of $420.51 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.52 EPS. Sell-side analysts forecast that Adobe Inc. will post 16.73 earnings per share for the current year.

Analyst Ratings Changes

ADBE has been the subject of several analyst reports. Oppenheimer reduced their target price on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Mizuho decreased their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Argus raised shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Finally, Sanford C. Bernstein lowered their price objective on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $580.65.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the transaction, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,293 shares of company stock valued at $1,679,809 over the last quarter. 0.15% of the stock is owned by corporate insiders.

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.