WD Rutherford LLC Sells 38 Shares of Adobe Inc. (NASDAQ:ADBE)

WD Rutherford LLC reduced its position in Adobe Inc. (NASDAQ:ADBE) by 0.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,839 shares of the software company’s stock after selling 38 shares during the period. Adobe accounts for approximately 2.0% of WD Rutherford LLC’s investment portfolio, making the stock its 19th largest holding. WD Rutherford LLC’s holdings in Adobe were worth $4,059,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADBE. GAMMA Investing LLC boosted its holdings in Adobe by 28.0% during the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after buying an additional 1,412 shares during the last quarter. Anchor Investment Management LLC grew its holdings in Adobe by 9.8% during the second quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock valued at $8,892,000 after purchasing an additional 1,430 shares during the period. Choreo LLC increased its stake in Adobe by 4.7% in the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock valued at $2,236,000 after purchasing an additional 197 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Adobe during the second quarter worth $1,318,000. Finally, Daymark Wealth Partners LLC boosted its position in shares of Adobe by 89.8% during the second quarter. Daymark Wealth Partners LLC now owns 9,118 shares of the software company’s stock worth $5,065,000 after purchasing an additional 4,315 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Adobe news, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,511 shares of company stock valued at $17,408,530. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several recent analyst reports. Oppenheimer reiterated an “outperform” rating and set a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. Citigroup upped their price target on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Piper Sandler Companies reissued an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research report on Friday, July 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, Stifel Nicolaus boosted their price objective on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Stock Up 0.9 %

Shares of NASDAQ:ADBE opened at $485.39 on Wednesday. The business has a fifty day simple moving average of $526.85 and a 200 day simple moving average of $516.01. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The firm has a market cap of $215.22 billion, a P/E ratio of 43.61, a P/E/G ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $3.26 earnings per share. Analysts predict that Adobe Inc. will post 14.8 earnings per share for the current year.

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.