Aspiriant LLC Sells 85 Shares of Adobe Inc. (NASDAQ:ADBE)

Aspiriant LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,365 shares of the software company’s stock after selling 85 shares during the period. Aspiriant LLC’s holdings in Adobe were worth $907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Arizona State Retirement System grew its stake in Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after purchasing an additional 570 shares in the last quarter. Burling Wealth Partners LLC bought a new stake in Adobe during the fourth quarter valued at about $1,173,000. Sound Income Strategies LLC boosted its position in Adobe by 17.6% during the first quarter. Sound Income Strategies LLC now owns 308 shares of the software company’s stock valued at $118,000 after purchasing an additional 46 shares in the last quarter. Horan Capital Advisors LLC. boosted its position in Adobe by 2.4% during the fourth quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company’s stock valued at $2,162,000 after purchasing an additional 114 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Adobe by 85.8% during the fourth quarter. Proficio Capital Partners LLC now owns 2,345 shares of the software company’s stock valued at $1,043,000 after purchasing an additional 1,083 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ADBE shares. Oppenheimer lowered their price target on Adobe from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Friday, June 13th. KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Robert W. Baird increased their target price on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Monday. Mizuho reduced their target price on shares of Adobe from $575.00 to $530.00 and set an “outperform” rating for the company in a research report on Friday, June 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $480.00 price objective on shares of Adobe in a report on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $494.67.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $382.68 on Wednesday. The business’s 50 day simple moving average is $388.36 and its 200-day simple moving average is $419.38. The firm has a market capitalization of $163.10 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.55. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% 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.