Fiduciary Planning LLC Reduces Position in Adobe Inc. (NASDAQ:ADBE)

Fiduciary Planning LLC trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 9.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 649 shares of the software company’s stock after selling 67 shares during the period. Fiduciary Planning LLC’s holdings in Adobe were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Sepio Capital LP raised its stake in Adobe by 2.3% in the fourth quarter. Sepio Capital LP now owns 993 shares of the software company’s stock valued at $442,000 after buying an additional 22 shares in the last quarter. Cadence Bank boosted its position in shares of Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company’s stock worth $2,171,000 after acquiring an additional 22 shares in the last quarter. Eagle Strategies LLC increased its holdings in shares of Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock valued at $651,000 after acquiring an additional 22 shares during the last quarter. RB Capital Management LLC raised its position in shares of Adobe by 0.4% during the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock worth $2,198,000 after acquiring an additional 22 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in Adobe by 0.4% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock worth $2,404,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 0.4%

Shares of ADBE stock opened at $416.92 on Friday. The company has a market capitalization of $177.69 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $381.41 and its two-hundred day moving average is $425.24. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ADBE shares. Redburn Atlantic started coverage on Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $480.00 price objective on shares of Adobe in a research report on Thursday. Wells Fargo & Company dropped their target price on shares of Adobe from $600.00 to $430.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI cut their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Finally, DA Davidson decreased their price objective on shares of Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $502.88.

Insider Transactions at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.