By otakuyassine3@gmail.com 
City State Bank decreased its holdings in Adobe Inc. (NASDAQ:ADBE – Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 849 shares of the software company’s stock after selling 25 shares during the quarter. City State Bank’s holdings in Adobe were worth $378,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the business. International Assets Investment Management LLC raised its stake in Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after acquiring an additional 1,376,333 shares in the last quarter. Longview Partners Guernsey LTD bought a new stake in Adobe during the second quarter worth about $663,745,000. FMR LLC raised its stake in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Adobe by 982.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after acquiring an additional 491,627 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Adobe during the third quarter worth $126,703,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Adobe
In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,293 shares of company stock worth $1,679,809 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ADBE. Citigroup decreased their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Barclays dropped their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Mizuho decreased their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Finally, BMO Capital Markets dropped their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $575.85.
Read Our Latest Stock Report on ADBE
Adobe Stock Up 0.1 %
Shares of Adobe stock traded up $0.27 during trading on Monday, reaching $406.19. The stock had a trading volume of 1,090,866 shares, compared to its average volume of 3,746,766. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $178.80 billion, a price-to-earnings ratio of 32.76, a P/E/G ratio of 2.51 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 stock has a fifty day moving average price of $484.01 and a two-hundred day moving average price of $517.00.
Adobe (NASDAQ:ADBE – Get Free Report) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the business earned $3.52 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts predict that Adobe Inc. will post 16.73 EPS for the current fiscal year.
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.
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