Capital Planning Advisors LLC Has $3.75 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Capital Planning Advisors LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,435 shares of the software company’s stock after purchasing an additional 326 shares during the quarter. Capital Planning Advisors LLC’s holdings in Adobe were worth $3,751,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ADBE. Onyx Bridge Wealth Group LLC raised its position in Adobe by 4.0% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock valued at $272,000 after purchasing an additional 20 shares during the last quarter. Connable Office Inc. raised its position in Adobe by 0.5% during the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after purchasing an additional 20 shares during the last quarter. 1ST Source Bank raised its position in Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after purchasing an additional 20 shares during the last quarter. Sfmg LLC raised its position in shares of Adobe by 3.1% in the 2nd quarter. Sfmg LLC now owns 708 shares of the software company’s stock worth $393,000 after acquiring an additional 21 shares in the last quarter. Finally, Next Capital Management LLC raised its position in shares of Adobe by 3.2% in the 2nd quarter. Next Capital Management LLC now owns 678 shares of the software company’s stock worth $377,000 after acquiring an additional 21 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of several recent research reports. Oppenheimer cut their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Piper Sandler dropped their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus dropped their price target on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. StockNews.com cut Adobe from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,763 shares of company stock valued at $893,665 over the last ninety days. 0.15% of the stock is currently owned by insiders.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $433.81 on Thursday. The company has a market capitalization of $188.84 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $471.36 and a 200 day moving average of $509.54.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion during 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%. Adobe’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 firm posted $3.52 earnings per share. On average, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.