Adobe Inc. (NASDAQ:ADBE) Stake Lowered by Financial Partners Group Inc

Financial Partners Group Inc trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 811 shares of the software company’s stock after selling 24 shares during the period. Financial Partners Group Inc’s holdings in Adobe were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Czech National Bank grew its position in Adobe by 5.8% in the third quarter. Czech National Bank now owns 90,325 shares of the software company’s stock worth $46,768,000 after acquiring an additional 4,954 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Adobe by 28.0% in the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after purchasing an additional 1,412 shares in the last quarter. Diversified Trust Co increased its position in Adobe by 10.8% during the third quarter. Diversified Trust Co now owns 6,446 shares of the software company’s stock worth $3,338,000 after buying an additional 630 shares during the last quarter. Smith Anglin Financial LLC raised its holdings in Adobe by 6.1% during the third quarter. Smith Anglin Financial LLC now owns 657 shares of the software company’s stock valued at $340,000 after buying an additional 38 shares in the last quarter. Finally, Consilio Wealth Advisors LLC lifted its position in shares of Adobe by 15.9% in the third quarter. Consilio Wealth Advisors LLC now owns 539 shares of the software company’s stock worth $279,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the topic of a number of analyst reports. Oppenheimer lowered their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada dropped their price target on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. DA Davidson decreased their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company dropped their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Stock Down 1.9 %

Shares of NASDAQ ADBE opened at $437.45 on Monday. The business has a fifty day moving average of $461.97 and a two-hundred day moving average of $503.41. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25. The stock has a market cap of $190.42 billion, a PE ratio of 35.28, a PEG ratio of 2.14 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the business earned $3.52 EPS. Adobe’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value 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 represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by corporate insiders.

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.