Veracity Capital LLC Has $509,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Veracity Capital LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 5.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,145 shares of the software company’s stock after selling 68 shares during the quarter. Veracity Capital LLC’s holdings in Adobe were worth $509,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Secure Asset Management LLC boosted its holdings in shares of Adobe by 7.1% in the 4th quarter. Secure Asset Management LLC now owns 1,175 shares of the software company’s stock worth $522,000 after acquiring an additional 78 shares in the last quarter. Red Door Wealth Management LLC boosted its stake in Adobe by 4.1% in the fourth quarter. Red Door Wealth Management LLC now owns 11,351 shares of the software company’s stock worth $5,048,000 after purchasing an additional 447 shares in the last quarter. Capital Planning Advisors LLC grew its holdings in shares of Adobe by 4.0% during the fourth quarter. Capital Planning Advisors LLC now owns 8,435 shares of the software company’s stock worth $3,751,000 after purchasing an additional 326 shares during the last quarter. Whalen Wealth Management Inc. acquired a new stake in shares of Adobe in the fourth quarter valued at $511,000. Finally, Avior Wealth Management LLC increased its stake in shares of Adobe by 65.9% in the fourth quarter. Avior Wealth Management LLC now owns 1,309 shares of the software company’s stock valued at $582,000 after buying an additional 520 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ADBE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Jefferies Financial Group dropped their price objective on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. DA Davidson decreased their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Stifel Nicolaus dropped their target price on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Citigroup decreased their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Stock Performance

Shares of ADBE opened at $437.28 on Friday. The firm’s 50 day moving average price is $471.36 and its two-hundred day moving average price is $509.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The firm has a market cap of $190.35 billion, a P/E ratio of 35.26, a PEG ratio of 2.11 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating 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 business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the firm posted $3.52 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.