Exencial Wealth Advisors LLC Has $10.82 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Exencial Wealth Advisors LLC lowered its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,339 shares of the software company's stock after selling 1,390 shares during the quarter. Exencial Wealth Advisors LLC's holdings in Adobe were worth $10,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Connable Office Inc. lifted its holdings in Adobe by 0.5% during the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company's stock worth $1,932,000 after buying an additional 20 shares during the last quarter. 1ST Source Bank raised its position in shares of Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company's stock valued at $1,496,000 after acquiring an additional 20 shares in the last quarter. James J. Burns & Company LLC lifted its stake in Adobe by 5.6% during the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company's stock worth $215,000 after purchasing an additional 22 shares during the last quarter. Holistic Financial Partners boosted its holdings in Adobe by 6.0% in the third quarter. Holistic Financial Partners now owns 387 shares of the software company's stock worth $200,000 after purchasing an additional 22 shares during the period. Finally, Beacon Financial Advisory LLC increased its stake in Adobe by 4.8% during the third quarter. Beacon Financial Advisory LLC now owns 498 shares of the software company's stock valued at $258,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

Shares of NASDAQ ADBE traded up $5.21 during trading on Wednesday, hitting $451.24. The company had a trading volume of 2,385,720 shares, compared to its average volume of 3,387,829. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The business's 50-day moving average is $439.55 and its 200 day moving average is $489.03. The company has a market cap of $196.42 billion, a P/E ratio of 36.39, a PEG ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping 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 firm had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $5.54 billion. During the same quarter last year, the business posted $3.52 EPS. Adobe's revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent research reports. StockNews.com downgraded shares of Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Stifel Nicolaus cut their target price on shares of Adobe from $650.00 to $600.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Jefferies Financial Group lowered their target price on Adobe from $700.00 to $650.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Piper Sandler cut their price target on Adobe from $635.00 to $600.00 and set an "overweight" rating on the stock in a report on Thursday, December 12th. Finally, JMP Securities restated a "market perform" rating on shares of Adobe in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and an average target price of $570.88.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. Corporate insiders own 0.15% of the company's stock.

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.