Gerber Kawasaki Wealth & Investment Management Lowers Stock Position in Adobe Inc. (NASDAQ:ADBE)

Gerber Kawasaki Wealth & Investment Management decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,799 shares of the software company’s stock after selling 45 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Adobe were worth $1,245,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the fourth quarter worth $31,000. Summit Securities Group LLC purchased a new position in Adobe during the 4th quarter worth $31,000. Caitlin John LLC lifted its stake in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after acquiring an additional 48 shares during the period. Mascoma Wealth Management LLC boosted its holdings in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after acquiring an additional 50 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Adobe during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $367.72 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $156.72 billion, a PE ratio of 29.65, a P/E/G ratio of 2.15 and a beta of 1.49. The firm has a 50 day simple moving average of $392.89 and a 200-day simple moving average of $445.08. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the firm posted $4.48 EPS. On average, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADBE. Mizuho lowered their price objective on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. UBS Group decreased their price target on Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Citigroup cut their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. decreased their target price on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Wells Fargo & Company cut their price target on shares of Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $502.88.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 334 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David A. Ricks purchased 2,250 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the acquisition, the director now owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by company insiders.

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.