Avion Wealth Has $38,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Avion Wealth grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 112.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87 shares of the software company’s stock after acquiring an additional 46 shares during the quarter. Avion Wealth’s holdings in Adobe were worth $38,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Adobe by 4.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 155,350 shares of the software company’s stock worth $68,522,000 after buying an additional 6,841 shares in the last quarter. Capital Advisors Inc. OK lifted its holdings in shares of Adobe by 34.4% in the 4th quarter. Capital Advisors Inc. OK now owns 672 shares of the software company’s stock worth $299,000 after purchasing an additional 172 shares in the last quarter. Certuity LLC lifted its holdings in shares of Adobe by 25.3% in the 4th quarter. Certuity LLC now owns 4,467 shares of the software company’s stock worth $1,986,000 after purchasing an additional 902 shares in the last quarter. Community Financial Services Group LLC lifted its holdings in shares of Adobe by 4.7% in the 4th quarter. Community Financial Services Group LLC now owns 11,948 shares of the software company’s stock worth $5,313,000 after purchasing an additional 535 shares in the last quarter. Finally, Signet Investment Advisory Group Inc. lifted its holdings in shares of Adobe by 3.5% in the 4th quarter. Signet Investment Advisory Group Inc. now owns 8,659 shares of the software company’s stock worth $3,850,000 after purchasing an additional 296 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ADBE shares. Mizuho cut their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. UBS Group lowered their price target on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Sanford C. Bernstein lowered their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Barclays decreased their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, Stifel Nicolaus decreased 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. One 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 company. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Stock Performance

Shares of ADBE opened at $458.82 on Wednesday. The company has a market cap of $199.72 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $452.62 and a 200-day moving average price of $498.52. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $626.34.

Adobe (NASDAQ:ADBE) last issued its quarterly 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 the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $3.52 EPS. As a group, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 transaction of $333,300.00. Following the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is currently owned by insiders.

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.