Aspiriant LLC Has $1.20 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

by · The Cerbat Gem

Aspiriant LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,316 shares of the software company’s stock after selling 163 shares during the period. Aspiriant LLC’s holdings in Adobe were worth $1,199,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Adobe by 28.0% during the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after buying an additional 1,412 shares during the period. Steph & Co. raised its holdings in Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after buying an additional 30 shares during the period. International Assets Investment Management LLC raised its holdings in Adobe by 16.2% during the 1st quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock worth $1,435,000 after buying an additional 398 shares during the period. Anchor Investment Management LLC raised its holdings in Adobe by 9.8% during the 2nd quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock worth $8,892,000 after buying an additional 1,430 shares during the period. Finally, Choreo LLC raised its holdings in Adobe by 4.7% during the 1st quarter. Choreo LLC now owns 4,431 shares of the software company’s stock worth $2,236,000 after buying an additional 197 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Barclays lifted their price objective on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Bank of America reiterated a “buy” rating and issued a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $606.40.

Read Our Latest Stock Report on Adobe

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 1,530 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the transaction, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the transaction, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,608 shares of company stock worth $17,486,391. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.2 %

ADBE stock traded down $0.85 during trading on Friday, hitting $495.98. The company had a trading volume of 618,446 shares, compared to its average volume of 3,209,939. The business has a 50-day moving average of $536.28 and a 200-day moving average of $515.72. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The stock 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. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE – Get Free Report) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the business posted $3.26 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Research analysts predict that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Adobe Company Profile

(Free Report)

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.

See Also

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