Adobe Inc. (NASDAQ:ADBE) Shares Sold by Fiduciary Planning LLC

Fiduciary Planning LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 649 shares of the software company’s stock after selling 67 shares during the quarter. Fiduciary Planning LLC’s holdings in Adobe were worth $249,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System boosted its holdings in Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after buying an additional 570 shares in the last quarter. Burling Wealth Partners LLC purchased a new position in Adobe in the fourth quarter valued at about $1,173,000. Silicon Valley Capital Partners lifted its position in shares of Adobe by 4.1% during the 4th quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company’s stock valued at $2,656,000 after acquiring an additional 236 shares during the period. Horan Capital Advisors LLC. boosted its stake in shares of Adobe by 2.4% during the 4th quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company’s stock worth $2,162,000 after acquiring an additional 114 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in shares of Adobe by 85.8% during the 4th quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company’s stock worth $1,043,000 after acquiring an additional 1,083 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

ADBE stock opened at $416.92 on Friday. The stock has a market capitalization of $177.69 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. 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 $332.01 and a 52-week high of $587.75. The stock’s fifty day simple moving average is $381.41 and its 200-day simple moving average is $425.24.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping 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 firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the business posted $4.48 earnings per share. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on ADBE. Robert W. Baird dropped their price objective on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. BMO Capital Markets cut their price target on Adobe from $495.00 to $450.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Summit Redstone set a $410.00 price objective on shares of Adobe in a research note on Wednesday, March 19th. Finally, Redburn Atlantic started coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $502.88.

Insider Transactions at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

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.