Revolve Wealth Partners LLC Lowers Position in Adobe Inc. (NASDAQ:ADBE)

Revolve Wealth Partners LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,305 shares of the software company’s stock after selling 37 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Adobe were worth $580,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe in the third quarter valued at approximately $26,000. Piscataqua Savings Bank grew its stake in Adobe by 226.7% in the 3rd 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 period. MidAtlantic Capital Management Inc. purchased a new stake in Adobe in the 3rd quarter worth $30,000. True Wealth Design LLC raised its position in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the period. Finally, Briaud Financial Planning Inc purchased a new position in Adobe during the third quarter valued at $36,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Citigroup reduced their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and lowered their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Stifel Nicolaus cut their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Bank of America lowered their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Buying and Selling

In other news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated 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 directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by insiders.

Adobe Price Performance

Adobe stock opened at $438.59 on Tuesday. The company’s 50 day moving average is $468.14 and its two-hundred day moving average is $507.26. The firm has a market cap of $190.92 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $3.52 earnings per share. On average, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.