Adobe Inc. (NASDAQ:ADBE) Shares Sold by Addison Advisors LLC

Addison Advisors LLC cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 197 shares of the software company’s stock after selling 58 shares during the quarter. Addison Advisors LLC’s holdings in Adobe were worth $88,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the third quarter worth $26,000. Groupama Asset Managment raised its holdings in shares of Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe in the third quarter worth $30,000. True Wealth Design LLC raised its holdings in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Adobe in the fourth quarter worth $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Ricks purchased 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of analyst reports. Redburn Atlantic initiated coverage on Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. DA Davidson cut their price target on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. StockNews.com cut Adobe from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus cut their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $590.00 price objective on shares of Adobe in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $570.88.

Adobe Trading Down 0.2 %

Shares of ADBE opened at $443.41 on Wednesday. The stock’s 50-day moving average is $439.88 and its two-hundred day moving average is $492.62. The stock has a market cap of $193.02 billion, a PE ratio of 35.76, a P/E/G ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. 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 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 for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.52 earnings per share. Equities analysts forecast 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.