Dynasty Wealth Management LLC Lowers Holdings in Adobe Inc. (NASDAQ:ADBE)

Dynasty Wealth Management LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 23.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,117 shares of the software company's stock after selling 1,227 shares during the quarter. Dynasty Wealth Management LLC's holdings in Adobe were worth $1,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legacy Investment Solutions LLC bought a new position in shares of Adobe during the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in Adobe in the 3rd quarter worth about $30,000. True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company's stock worth $30,000 after purchasing an additional 34 shares during the period. Briaud Financial Planning Inc bought a new stake in Adobe in the third quarter valued at approximately $36,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Adobe in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of the company's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company's stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JMP Securities reiterated a "market perform" rating on shares of Adobe in a report on Thursday, December 12th. Piper Sandler lowered their target price on shares of Adobe from $635.00 to $600.00 and set an "overweight" rating on the stock in a report on Thursday, December 12th. Jefferies Financial Group decreased their target price on Adobe from $700.00 to $650.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective for the company in a report on Wednesday, January 15th. Finally, Oppenheimer reduced their target price on Adobe from $625.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $570.88.

Adobe Price Performance

Shares of NASDAQ ADBE traded up $1.30 during mid-day trading on Friday, hitting $438.49. 3,936,248 shares of the company's stock traded hands, compared to its average volume of 3,474,121. The company has a market capitalization of $190.87 billion, a P/E ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company's 50-day moving average is $439.71 and its two-hundred day moving average is $490.93. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.52 EPS. On average, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal 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.