Adobe Inc. (NASDAQ:ADBE) Shares Sold by Moser Wealth Advisors LLC

Moser Wealth Advisors LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 635 shares of the software company’s stock after selling 25 shares during the period. Moser Wealth Advisors LLC’s holdings in Adobe were worth $282,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. LVW Advisors LLC lifted its holdings in shares of Adobe by 16.4% during the third quarter. LVW Advisors LLC now owns 1,077 shares of the software company’s stock worth $558,000 after purchasing an additional 152 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in Adobe by 52.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,872 shares of the software company’s stock worth $10,806,000 after buying an additional 7,172 shares during the last quarter. Fiduciary Financial Group LLC acquired a new stake in shares of Adobe in the 3rd quarter worth $448,000. Valeo Financial Advisors LLC increased its stake in shares of Adobe by 21.4% during the third quarter. Valeo Financial Advisors LLC now owns 7,396 shares of the software company’s stock worth $3,829,000 after acquiring an additional 1,302 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in Adobe by 0.8% during the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,842 shares of the software company’s stock worth $6,132,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $433.07 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. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $628.07. The firm has a market capitalization of $188.52 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.11 and a beta of 1.31. The business’s 50-day simple moving average is $453.92 and its 200-day simple moving average is $499.63.

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, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the firm earned $3.52 earnings per share. Adobe’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,681 shares of company stock worth $2,525,126. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 15th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Mizuho reduced their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Stifel Nicolaus lowered their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, BMO Capital Markets reduced their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $573.00.

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.