Capital Investment Advisors LLC Sells 27 Shares of Adobe Inc. (NASDAQ:ADBE)

Capital Investment Advisors LLC reduced its position in Adobe Inc. (NASDAQ:ADBE) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,351 shares of the software company’s stock after selling 27 shares during the period. Capital Investment Advisors LLC’s holdings in Adobe were worth $2,824,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of 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 valued at $713,703,000 after buying an additional 1,376,333 shares during the period. Longview Partners Guernsey LTD purchased a new position in Adobe during the second quarter valued at approximately $663,745,000. FMR LLC increased its holdings in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in 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 purchasing an additional 491,627 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in Adobe in the 3rd quarter valued at $126,703,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and decreased their target price for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Mizuho dropped their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Bank of America decreased their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $575.85.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $408.50 on Tuesday. 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 cap of $179.82 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a 50-day moving average price of $482.55 and a 200-day moving average price of $516.02.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data 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. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $3.52 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.73 EPS for the current year.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,763 shares of company stock worth $893,665 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

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.