WD Rutherford LLC Boosts Holdings in Adobe Inc. (NASDAQ:ADBE)

WD Rutherford LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,317 shares of the software company’s stock after buying an additional 478 shares during the quarter. Adobe comprises 1.8% of WD Rutherford LLC’s portfolio, making the stock its 24th largest position. WD Rutherford LLC’s holdings in Adobe were worth $3,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after acquiring an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after purchasing an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after purchasing an additional 78,384 shares in the last quarter. Morse Asset Management Inc lifted its holdings in shares of Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after purchasing an additional 2,113 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Adobe by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock worth $44,090,000 after purchasing an additional 1,326 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Performance

Shares of ADBE opened at $460.16 on Friday. The business has a 50-day simple moving average of $446.56 and a two-hundred day simple moving average of $496.88. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $607.32. The stock has a market cap of $200.31 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the company posted $3.52 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Piper Sandler reduced their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. BMO Capital Markets cut their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Sanford C. Bernstein decreased their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Activity

In related news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, 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. Insiders have sold 5,681 shares of company stock worth $2,525,126 in the last three months. Company insiders own 0.15% of the company’s stock.

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.