Aspiriant LLC Lowers Position in Adobe Inc. (NASDAQ:ADBE)

Aspiriant LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,316 shares of the software company’s stock after selling 163 shares during the quarter. Aspiriant LLC’s holdings in Adobe were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Adobe by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock valued at $20,511,473,000 after purchasing an additional 382,803 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Adobe by 17.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after acquiring an additional 1,146,718 shares during the period. Principal Financial Group Inc. grew its stake in shares of Adobe by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock worth $1,097,475,000 after acquiring an additional 12,065 shares during the period. Clearbridge Investments LLC grew its stake in shares of Adobe by 0.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock worth $1,097,044,000 after acquiring an additional 15,685 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Adobe by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock worth $945,780,000 after acquiring an additional 185,737 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE stock traded down $0.85 during trading on Friday, reaching $495.98. The stock had a trading volume of 618,446 shares, compared to its average volume of 3,209,939. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The stock’s 50 day moving average is $536.28 and its two-hundred day moving average is $515.72. 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 $219.92 billion, a PE ratio of 44.60, a PEG ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the company earned $3.26 earnings per share. Adobe’s revenue was up 10.6% on a year-over-year basis. As a group, equities analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current year.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now owns 20,838 shares in the company, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Scott Belsky sold 481 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the sale, the executive vice president now owns 19,658 shares in the company, valued at approximately $10,556,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,608 shares of company stock worth $17,486,391 over the last quarter. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADBE. Argus raised Adobe to a “strong-buy” rating in a report on Monday, September 16th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $635.00 price target on shares of Adobe in a report on Friday, July 12th. Stifel Nicolaus raised their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Finally, UBS Group dropped their target price on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $606.40.

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.