Western Wealth Management LLC Has $471,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Western Wealth Management LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 48.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,059 shares of the software company's stock after selling 999 shares during the period. Western Wealth Management LLC's holdings in Adobe were worth $471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH raised its holdings in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares during the period. Summit Securities Group LLC acquired a new position in shares of Adobe during the fourth quarter worth approximately $31,000. Caitlin John LLC boosted 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 valued at $34,000 after acquiring an additional 48 shares during the period. Avion Wealth boosted its position in shares of Adobe by 112.2% in the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock valued at $38,000 after acquiring an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC grew its stake in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after acquiring an additional 50 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADBE. Oppenheimer cut their target price on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Redburn Atlantic assumed coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Royal Bank of Canada decreased their target price on Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. BMO Capital Markets reduced their price objective on Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, Summit Redstone set a $410.00 price objective on Adobe in a research report on Wednesday, March 19th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $502.88.

Adobe Price Performance

Shares of Adobe stock traded up $0.56 during trading on Thursday, reaching $412.79. The company's stock had a trading volume of 644,512 shares, compared to its average volume of 3,434,643. 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 market capitalization of $175.93 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The stock has a 50-day moving average price of $378.50 and a two-hundred day moving average price of $430.10. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share 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 in the previous year, the business posted $4.48 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Daniel Durn bought 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

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.