Adobe Inc. (NASDAQ:ADBE) Stock Position Reduced by Moser Wealth Advisors LLC

Moser Wealth Advisors LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 635 shares of the software company’s stock after selling 25 shares during the quarter. Moser Wealth Advisors LLC’s holdings in Adobe were worth $282,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. LVW Advisors LLC lifted its position in shares of Adobe by 16.4% in the 3rd quarter. LVW Advisors LLC now owns 1,077 shares of the software company’s stock worth $558,000 after buying an additional 152 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Adobe by 52.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,872 shares of the software company’s stock valued at $10,806,000 after acquiring an additional 7,172 shares during the period. Fiduciary Financial Group LLC bought a new position in shares of Adobe during the third quarter valued at approximately $448,000. Valeo Financial Advisors LLC raised its position in shares of Adobe by 21.4% during the 3rd quarter. Valeo Financial Advisors LLC now owns 7,396 shares of the software company’s stock worth $3,829,000 after purchasing an additional 1,302 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of Adobe by 0.8% in the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,842 shares of the software company’s stock worth $6,132,000 after purchasing an additional 89 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Oppenheimer cut their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and decreased their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Citigroup cut 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. Finally, Piper Sandler decreased their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by corporate insiders.

Adobe Price Performance

NASDAQ ADBE opened at $433.07 on Friday. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $628.07. The business’s fifty day moving average is $453.92 and its two-hundred day moving average is $499.63. The stock has a market capitalization of $188.52 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.11 and a beta of 1.31. 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 (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the firm earned $3.52 earnings per share. Adobe’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.