One Wealth Capital Management LLC Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

One Wealth Capital Management LLC purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,377 shares of the software company’s stock, valued at approximately $1,057,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Piscataqua Savings Bank increased its stake in Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Adobe in the 3rd quarter worth about $26,000. Groupama Asset Managment raised its holdings in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe during the 3rd quarter valued at about $30,000. Finally, True Wealth Design LLC boosted its stake in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were 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 directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,293 shares of company stock valued at $1,679,809. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Down 2.3 %

Shares of NASDAQ:ADBE traded down $9.86 on Tuesday, hitting $421.32. 3,161,818 shares of the company traded hands, compared to its average volume of 3,733,981. The company has a market cap of $185.47 billion, a PE ratio of 33.98, a PEG ratio of 2.51 and a beta of 1.31. The stock has a 50 day simple moving average of $489.31 and a 200-day simple moving average of $520.13. Adobe Inc. has a 52 week low of $420.51 and a 52 week high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its earnings results 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. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.52 earnings per share. As a group, research analysts expect that Adobe Inc. will post 16.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADBE. Deutsche Bank Aktiengesellschaft decreased 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. Morgan Stanley restated an “overweight” rating and set a $660.00 price target on shares of Adobe in a research report on Friday, September 13th. Wells Fargo & Company decreased their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday. Argus upgraded Adobe to a “strong-buy” rating in a report on Monday, September 16th. Finally, Sanford C. Bernstein decreased their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $580.65.

Adobe 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.