Marietta Wealth Management LLC Increases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Marietta Wealth Management LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 21.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,604 shares of the software company's stock after purchasing an additional 2,732 shares during the quarter. Marietta Wealth Management LLC's holdings in Adobe were worth $6,939,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ADBE. International Assets Investment Management LLC raised its position in Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company's stock worth $713,703,000 after buying an additional 1,376,333 shares during the last quarter. FMR LLC increased its stake in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company's stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Adobe by 42.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company's stock worth $519,646,000 after purchasing an additional 347,536 shares during the last quarter. Seilern Investment Management Ltd acquired a new position in Adobe during the fourth quarter valued at $110,744,000. Finally, Erste Asset Management GmbH purchased a new stake in Adobe in the third quarter valued at $126,703,000. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent research reports. UBS Group reduced their price objective on Adobe from $525.00 to $475.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. JMP Securities reissued a "market perform" rating on shares of Adobe in a report on Thursday, December 12th. Piper Sandler dropped their price objective on shares of Adobe from $635.00 to $600.00 and set an "overweight" rating on the stock in a research note on Thursday, December 12th. Royal Bank of Canada decreased their target price on shares of Adobe from $610.00 to $590.00 and set an "outperform" rating for the company in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of Adobe from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $573.00.

Adobe Trading Up 0.4 %

Adobe stock traded up $1.65 during midday trading on Tuesday, hitting $440.25. 1,678,375 shares of the stock were exchanged, compared to its average volume of 3,861,454. 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's 50-day simple moving average is $460.36 and its 200 day simple moving average is $502.16. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $634.59. The stock has a market capitalization of $191.64 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 2.12 and a beta of 1.31.

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

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 in the last ninety days. Company insiders own 0.15% of the company's stock.

Adobe Company 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.