Aspiriant LLC Purchases 179 Shares of Adobe Inc. (NASDAQ:ADBE)

Aspiriant LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,711 shares of the software company’s stock after purchasing an additional 179 shares during the quarter. Aspiriant LLC’s holdings in Adobe were worth $1,368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new position in Adobe during the fourth quarter valued at $35,000. Steph & Co. raised its position in shares of Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares during the last quarter. Vima LLC purchased a new position in shares of Adobe in the 4th quarter worth about $55,000. Pineridge Advisors LLC bought a new position in Adobe in the 4th quarter worth about $60,000. Finally, Scarborough Advisors LLC purchased a new stake in Adobe during the 4th quarter valued at about $61,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. HSBC cut their price target on shares of Adobe from $557.00 to $511.00 and set a “hold” rating on the stock in a report on Friday, March 15th. TheStreet lowered Adobe from a “b-” rating to a “c+” rating in a report on Tuesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $600.00 price target on shares of Adobe in a report on Friday, June 14th. DA Davidson reiterated a “buy” rating and issued a $685.00 price objective on shares of Adobe in a report on Thursday, March 28th. Finally, Sanford C. Bernstein upped their target price on shares of Adobe from $653.00 to $660.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $607.67.

Insider Activity at Adobe

In other Adobe news, insider Anil Chakravarthy sold 100 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the sale, the insider now owns 33,609 shares in the company, valued at $15,829,839. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Anil Chakravarthy sold 100 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $471.00, for a total value of $47,100.00. Following the transaction, the insider now directly owns 33,609 shares in the company, valued at $15,829,839. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 264 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the completion of the transaction, the chief accounting officer now directly owns 2,740 shares in the company, valued at approximately $1,439,897.40. The disclosure for this sale can be found here. Insiders sold a total of 3,270 shares of company stock worth $1,563,166 in the last quarter. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

Adobe stock opened at $546.76 on Friday. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a current ratio of 1.16, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $481.75 and a 200-day moving average price of $535.99. The firm has a market capitalization of $244.95 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 2.75 and a beta of 1.27.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.39 by $0.09. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 earnings per share. As a group, equities research analysts forecast that Adobe Inc. will post 14.69 EPS for the current year.

Adobe declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to buy up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.