RWA Wealth Partners LLC Has $2.96 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

RWA Wealth Partners LLC lifted its position in Adobe Inc. (NASDAQ:ADBE) by 2.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,665 shares of the software company’s stock after acquiring an additional 140 shares during the quarter. RWA Wealth Partners LLC’s holdings in Adobe were worth $2,964,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Adobe during the third quarter valued at $26,000. True Wealth Design LLC boosted its position in Adobe by 141.7% during the 3rd 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. Decker Retirement Planning Inc. purchased a new position in Adobe during the 4th quarter valued at about $31,000. Summit Securities Group LLC acquired a new position in shares of Adobe in the 4th quarter valued at about $31,000. Finally, Caitlin John LLC lifted its position in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 over the last quarter. 0.16% of the stock is owned by company insiders.

Adobe Price Performance

Shares of ADBE stock opened at $385.71 on Monday. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75. The company has a market capitalization of $164.39 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.15 and a beta of 1.37. The stock has a 50 day moving average of $431.81 and a two-hundred day moving average of $468.92. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period last year, the business earned $4.48 earnings per share. As a group, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein cut their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Citigroup cut their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Royal Bank of Canada restated an “outperform” rating and issued a $530.00 target price on shares of Adobe in a research note on Wednesday, March 19th. Wells Fargo & Company cut their price target on Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, Oppenheimer lowered their price target on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $533.85.

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.