Apella Capital LLC Acquires 438 Shares of Adobe Inc. (NASDAQ:ADBE)

Apella Capital LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 62.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,139 shares of the software company’s stock after purchasing an additional 438 shares during the quarter. Apella Capital LLC’s holdings in Adobe were worth $415,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Geode Capital Management LLC increased its stake in Adobe by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company’s stock worth $4,739,788,000 after purchasing an additional 151,286 shares in the last quarter. Norges Bank bought a new stake in Adobe during the 4th quarter worth approximately $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Adobe by 12.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company’s stock worth $2,375,345,000 after purchasing an additional 600,146 shares in the last quarter. Northern Trust Corp increased its stake in Adobe by 14.5% during the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock worth $2,363,125,000 after purchasing an additional 672,919 shares in the last quarter. Finally, Edgewood Management LLC grew its stake in shares of Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company’s stock worth $1,805,009,000 after acquiring an additional 696,172 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn bought 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 acquisition, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Adobe Trading Up 0.3%

Shares of Adobe stock opened at $413.91 on Thursday. The business has a fifty day simple moving average of $380.10 and a two-hundred day simple moving average of $426.39. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a market capitalization of $176.41 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the firm posted $4.48 EPS. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Mizuho decreased their price target on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Redburn Atlantic assumed coverage on shares of Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Evercore ISI decreased their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Piper Sandler decreased their price target on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, UBS Group decreased their price target on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $502.88.

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.